NAIOP 2016 Commercial Real Estate Awards by GLACIER MEDIA DIGITAL LIMITED PARTNERSHIP dba BUSINESS IN VANCOUVER

2016

AWARD Categories

Awards of Excellence

Commercial Real Estate

OFFICE DEVELOPMENT.................................................. C4 DEVELOPING LEADER (UNDER 35 YEARS OF AGE).................................. C4 INDUSTRIAL LEASE................................................................ C5 MIXED-USE DEVELOPMENT................................. C6 RETAIL DEVELOPMENT................................................... C7 INDUSTRIAL DEVELOPMENT.............................. C8 Tenant Improvement.............................................. C9 OFFICE LEASE.................................................................................... C10 INVESTMENT TRANSACTION............................ C10 retail lease..................................................................................... C11

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2016 Commercial Real Estate Awards of Excellence

Message from the President

NAIOP

Vancouver is extremely pleased to partner with Business in Vancouver to co-host the Commercial Real Estate Awards of Excellence Gala on Tuesday, May 17, 2016, at the Fairmont Waterfront Hotel. The event will recognize excellence in commercial real estate within the Metro Vancouver area for the years 2014 and 2015. This is the third such recognition gala in which we have partnered with Business in Vancouver. The last one was held in May 2014. The awards recognize the full range of disciplines involved in creating successful real estate solutions, while highlighting the leadership role played by property owners, developers and professional advisers. We were delighted with the number and quality of submissions we received. I would like to acknowledge the vital role NAIOP Vancouver members and the commercial real estate industry play in our economy. A study conducted a few years ago by the University of British Columbia Sauder School of Business Centre for Urban Economics and Real Estate indicates that NAIOP Vancouver members generate more than $9.6 billion in GDP for the local economy, including the contribution of Port Metro Vancouver. In addition, NAIOP Vancouver members were responsible for the creation of over 200,000 direct, indirect and induced jobs in the Lower Mainland. The estimated value of annual new construction from office,

Chris MacCauley President, NAIOP Vancouver, 2016

co-chairs

Commercial Real Estate

Awards of Excellence

Ernie Hee Ernest Hee is a partner with McMillan LLP. He advises on all aspects of commercial real estate and corporate/commercial law. He has a varied client base that includes well-known banks, developers, pension funds, limited partnerships and private individuals. Ernest also acts for European real estate investors and has acted for prominent U.S. investors and real estate funds on various acquisitions in B.C. His skill as a negotiator and closer is well known in the real estate community. Ernest is a board member of and legal counsel to the Vancouver chapter of the NAIOP Commercial Real Estate Development Association.

The NAIOP Vancouver Chapter, in partnership with Business in Vancouver, is delighted to present the 2016 Commercial Real Estate Awards of Excellence. This event will recognize excellence in commercial real estate within the Metro Vancouver area for the 2014 and 2015 calendar years.

Jennifer Podmore Russell Jennifer Podmore Russell is a director of Deloitte Real Estate whose expertise involves a broad range of traditional and non-traditional real estate projects. Prior to joining Deloitte in late 2009, Jennifer successfully ran an independent consulting firm based in Western Canada focused on tracking all major residential and mixed-use development in B.C. and Alberta. Jennifer sits on the boards of NAIOP and Atira Women’s Resource Society.

May 17, 2016 | 6:15pm - 9:00pm The Fairmont Waterfront NAIOP member/BIV subscriber: $125 Non-member/Non-subscriber : $150 Event partner table: $2250 PresenTed by:

retail, industrial, and residential and mixed use in Metro Vancouver is over $877.9 million, and property tax payments by NAIOP Vancouver members in both the city of Vancouver and the Lower Mainland exceeded $310 million, or roughly 42% of all non-residential property tax revenues in the Lower Mainland. In short, NAIOP Vancouver members make a significant contribution to our economy, and I am delighted to see the best of the best being honoured at the awards gala this month. I congratulate all the finalists and look forward to an exceptional evening at the Fairmont Waterfront Hotel on Tuesday, May 17. Individual tickets, corporate tables and regular tables are available at www.biv. com/realestateawards.

Judges Steve Smith Managing director, western region, Manulife Real Estate

Gold sPonsors:

Stephanie Setchell

Andrew Kirkham

Leasing manager, Farrell Estates Ltd.

Vice-president, portfolio management, Western Canada, Kingsett Capital

David Podmore

Steffan Smith

Raymond Choy

Chair, Concert Properties

Senior director, GWL Realty Advisors

Chief investment officer, Peterson

silVer sPonsors:

General sPonsors: GO2PRODUCTIONS make it great

Visit www.biv.com/realestateawards to register

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2016 Commercial Real Estate Awards of Excellence

Office Development | Finalists Award will be given to the team or individual responsible for developing the top office project completed during the calendar years 2014 and 2015. Selection will be based upon the quality, functionality, leasing, sustainability and financial performance of the project. Innovation will also be considered.

745 Thurlow

980 Howe

Vendor/Owner: 2748355 Canada Inc. Team Members and Affiliated Companies: bcIMC, Bentall Kennedy, MCMP, Stuart Olson 74 5 T h u r l o w i s a 2 3- s t o r e y, 400,000-square-foot, triple A-downtown office development with main floor retail and a rooftop amenity area. It was designed and constructed to a LEED Gold standard with certification expected in 2017.

Vendor/Owner: Manulife Financial Group | Team Members and Affiliated Companies: In collaboration with Endall Elliot Associates This new office development by Manulife Real Estate in downtown Vancouver features 16 storeys of office space over a street-level podium with prime storefront retail space and building services. The commercial office component offers large floor plate rental opportunities, with areas ranging from 15,160 to 16,611 square feet, totalling over 250,000 square feet. It features a double-height entrance lobby with marble, granite and wood finishes, nine-foot office ceilings, floor-to-ceiling glazing on the exterior walls of all office floors and a shared penthouse meeting room, complete with roof terraces.

Coast Capital Savings Help Headquarters at King George Station Vendor/Owner: PCI Developments Corp. | Team Members and Affiliated Companies: Musson Cattell Mackey Partnership Architects, Ledcor Construction, Triovest Bu i lt to L EED G old sta nda rds, th is innovative 10-storey office development at King George Station and Fraser Highway in Surrey City Centre includes 160,000 square feet of office space and 25,000 square feet of retail, with over 1,000 employees. This complex is home to the head office of Coast Capital Savings, a proud corporate citizen of Surrey that strategically chose a new, state-of-the-art building within an upcoming, vibrant, mixed-use, transit-oriented community.

MNP Tower Vendor/Owner: Oxford Properties Group and CPPIB | Team Members and Affiliated Companies: Oxford Properties Group, CPPIB, Kohn Pedersen Fox, MCM Architects, Ledcor The project mandate was to create an “AAA” boutique office building appealing to the city’s predominantly 3,000-to-5,000square-foot tenant size, capitalizing on its central location and North Shore views. Respectful of its context and the city’s skyline, the project is connected to the heritage Marine Building and the University Club. Human-scaled architecture at the base was developed alongside a more urban scale at the tower’s top. Between the new building and the University Club, the curtain wall peels upward, allowing the existing masonry facade to nestle beneath its prow and relate to the Marine Building base.

Developing Leader | Finalists Award will be given to the NAIOP Vancouver developing leader who during the calendar years 2014 and 2015 showed exemplary leadership in the commercial real estate industry and who contributed to the industry in a significant way.

Jason Kiselbach

Anthio Yuen

Janay Koldingnes

Roy Pat

Senior associate, CBRE Ltd. Joining the NAIOP Developing Leaders committee in January 2014, Jason has become a mentor and leader to many in the industry. A trusted adviser to local industrial landlords and developers, he has been selected as the listing broker for many significant listing assignments. Jason coaches others to achieve their goals, helps students identify their career paths and has spoken at UBC Sauder events. Recently, Jason provided the industrial market overview and co-moderated the NAIOP Industrial Breakfast, and participated in the commercial real estate panel at Buildex Vancouver 2016. He has completed over 200 deals, executed on over $400 million of total transaction value and completed 5.4 million square feet of design builds.

Senior manager, portfolio analysis and research services, GWL Realty Advisors With a background in property market analysis, urban planning and research strategy, Anthio manages the firm’s re a l estate m a rket rese a rch across Canada, supporting the firm’s portfolio m a n a gement te a m s a nd cl ients by providing insight into Canada’s property sectors. His primary duties include macro and urban-level economic analysis, property market forecasting and the formulation of investment strategy and emerging theme reports. Before joining GWL Realty Advisors, Anthio was part of a CBRE Ltd. research group and also had research roles with DTZ and the Real Property Association of Canada.

Interior designer, Dialog With 15 years’ experience specializing in corporate workplace design, Janay has been the lead designer and project ma nager on major projects ra ng i ng from 10,000 to 215,000 square feet with corporations throughout Vancouver. With a well-rounded knowledge of the design and construction process, Janay provides her clients with timely, accurate updates to ensure a smooth process from start to finish. To establish optimal space utilization and design direction, she works with her clients to understand the dynamics of their organization. Working in Europe, she collaborated with a Dutch architectural firm creating architecturally significant spaces, the influence of which is evident in many of her projects.

Associate, Colliers International Roy graduated from the University of British Columbia with a bachelor of commerce, specializing in finance, and completed a summer internship at GWL Realty Advisors. In 2012, he joined the industrial brokerage team at Colliers. Fully integrated in the underwriting, marketing, negotiating and sales processes, Roy has been involved in over $520 million of property sales, including those over $70 million in value, and 5.7 million square feet of leasing. He was a speaker at the 2015 NAIOP Vancouver Industrial Breakfast Event and a panellist in the fall 2015 Vancouver Real Estate Strategy and Leasing Conference. In spring 2016, he was involved with NAIOP’s consultation on the False Creek Flats with the City of Vancouver.

2016 Commercial Real Estate Awards of Excellence

Industrial Lease | Finalists Award will be given to the team or individual responsible for negotiating the top industrial lease completed during the calendar years 2014 and 2015. Selection will be based upon the complexity, innovation and creativity of the transaction to meet the objectives of landlord and/or tenant. Market impact of the transaction will also be considered.

Vector Aerospace Building – Langley Airport

Oxford Queensborough Logistics Park

Vendor/Owner: Airport Facilities Corp. Team Members and Affiliated Companies: Graeme Bullus, Newmark Knight Frank Devencore As part of a seven-year real estate planning project for Vector Aerospace (subsidiary of Airbus Helicopters), Vector chose to buildto-suit a custom facility at the Langley airport to house its airframes and avionics divisions, including up to 150 new highskilled aviation and engineering jobs. We represented the tenant in the transactions. T he resu lt i ng bu i ld-to-su it was a n 80,000-square-foot building, including 20,000 square feet of office, 186 parking spaces and two helipads.

Vendor/Owner: Oxford Properties Group Team Members and Affiliated Companies: Drew Gilbertson, Todd Scarlett (Colliers International), Port Metro Vancouver (land lease), Beedie Construction This lease transaction marks the second full building lease at Queensborough Logistics Park. Teaming with Beedie Construction, Oxford has committed to a full brownfield redevelopment of a 35-acre land lease site, formerly a dilapidated s a w m i l l , p ro v i d i n g b e s t-i n-c l a s s facilities in an irreplaceable location. The transaction represents a 243,610-squarefoot full building transaction housing both light manufacturing and distribution for Arc’teryx Equipment. At full capacity, the facility will provide over 600 jobs, making Arc’teryx New Westminster’s second-largest private employer. The transaction defines successful brownfield development and the repurposing of industrial land in our constrained market.

Overland West Freight Inc.

109 Braid Street

Vendor/Owner: Wesgroup Properties LP Team Members and Affiliated Companies: Developer Wesgroup Properties; tenant Overland West Freight Inc. (part of Reimer Group of Companies) T he Overla nd development is a 36,000-square-foot, 48-door, builtto-suit cross-dock facility located on Bridgeview Drive in North Surrey. This state-of-the-art transportation facility is on six acres and will be a relocation of op erat ion s f rom Por t Kel l s. T he development will also include 11,000 square feet of turnkey office to serve as a regional head office that will be positioned on the site to give maximum exposure onto Bridgeview Drive. The site is a prime logistical location adjacent to the South Fraser Perimeter Road and will provide Overland with a central location to service the Lower Mainland and Western Canada.

Vendor/Owner: 2725321 Canada Inc. (British Columbia Investment Management Corp.) Team Members and Affiliated Companies: bcIMC, Bentall Kennedy (Canada) LP, Cushman & Wakefield, Amazon Constructed in 1982, this 38-acre industrial site, adjacent to the Braid Street Skytrain station and the Brunette interchange to Highway 1, has offered exceptional warehouse and distribution space within Metro Vancouver. The main warehouse is 585,000 square feet with loading docks on three sides, generous truck loading access, trailer storage and abundant surface parking. The building has accommodated users ranging in size from 80 to 350,000 square feet. The owner has been working with the City of New Westminster on amending the official community plan and rezoning the site for a comprehensive mixed-use, transit-oriented development, but, after a vacancy challenge in 2014, opted to pursue leasing the building for longer than what was a rolling six-month demolition period.

Different by Design As one of the fastest-growing firms in Canada, we lead by example. We understand what it takes to not only grow your business, but to structure it effectively for the long term. MNP’s Real Estate and Construction team have the strategic industry knowledge and experience you need to maximize opportunities. We deliver in-depth accounting, tax and business consulting solutions as innovative as you are, keeping you at the forefront of the competition. Rob Wesley, CPA, CA

Craig Donnelly, CPA, CA

Greater Vancouver Regional Leader

Vancouver Leader

Real Estate & Construction Services

Real Estate Services

T: 604.536.7614

T: 604.637.1523

E: rob.wesley@mnp.ca

E: craig.donnelly@mnp.ca

2016 Commercial Real Estate Awards of Excellence

Mixed-Use Development | Finalists Award will be given to the team or individual responsible for developing the top mixed-use project completed during the calendar years 2014 and 2015. Selection will be based upon the quality, functionality, leasing, sustainability and financial performance of the project. Innovation and scale will be considered.

Telus Garden Office Building

Marine Gateway

725 Granville

Vendor/Owner: Various Vendors Team Members and Affiliated Companies: Westbank, Henriquez Partners Architects, Integral Group, LMDG, PFS Studio Telus Garden revolutionizes the Vancouver skyline with two new towers in the heart of downtown. This $750 million redevelopment project involves the design and construction of a new 44-storey residential tower and a 22-storey office tower. The 450,000-square-foot office tower was completed in September 2015 and is the first LEED Platinum office building in Vancouver. It houses the company’s new headquarters as well as other offices, a restaurant and a public plaza, while the 435,0000-squarefoot residential building will include market housing, retail units and underground parking. This civic icon of sustainability features a central plant with high-efficiency heat pumps and waste heat recovery from Telus Data Centre, radiant heating and cooling, demand-controlled ventilation and LED lighting. With over 10,000 square feet of green roofs including two elevated roof forests, Telus Garden is a stunning and true representation of British Columbia.

Vendor/Owner: PCI Developments Corp. Team Members and Affiliated Companies: Perkins+Will, Triovest Realty Advisors Marine Gateway is Vancouver’s first transit-oriented, mixed-use development directly connecting to the Marine Drive Canada Line station and the South Vancouver bus loop at Cambie and Southwest Marine Drive. Built to LEED Gold equivalency, this 830,000-square-foot landmark comprises five separate air parcels: two residential towers with 415 condominium homes and 46 rental apartments, a 250,000-square-foot Class A office building and over 240,000 square feet of retail and public space – a total project cost of approximately $400 million. The 14-storey office building, integrated into the complex with large floor plates (14,800 to 21,200 square feet), will appeal to back office, engineering and research tenants, with amenities such as a fully equipped gym and outdoor terrace. Marine Gateway’s “High Street” offers best-in-class service, retail, entertainment and convenience shopping. It includes 1,250 underground parking stalls, co-op car stalls and a bicycle mobility centre.

Vendor/Owner: Cadillac Fairview Corp. Ltd. Team Members and Affiliated Companies: Josh Thomson (CF), Lou Ficocelli (CF), Carson Pennock (CF), Tom Knoepfel (CF), Jason Howell (CF) In 2012, Cadillac Fairview announced a multimilliondollar redevelopment of the former Sears building. This project extends the current Pacific Centre complex and further solidifies the complex’s position as Vancouver’s pre-eminent downtown mixed-use property. Situated between Granville and Howe streets and spanning from West Pender to Robson Street, the redevelopment, called 725 Granville, is uniquely constructed. Instead of demolishing the old structure to erect a new one, the existing building’s shell was kept, but the structure was re-clad in glass. The former Sears department store was reconfigured to accommodate a new 48,000-squarefoot multi-tenant retail space on the lower mall level, a 230,000-square-foot Nordstrom store on three floors, including the street level, and 290,000 square feet of AAA-class office space on the top four levels.

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2016 Commercial Real Estate Awards of Excellence

Retail Development | Finalists Award will be given to the team or individual responsible for negotiating the top investment transaction completed during the calendar years 2014 and 2015. Selection will be based upon the complexity, innovation and creativity of the transaction to meet the objectives of all parties involved. Market impact of the transaction will also be considered.

725 Granville

Marine Gateway

McArthurGlen Designer Outlet Centre

Vendor/Owner: Cadillac Fairview Corp. Ltd. Team Members and Affiliated Companies: Josh Thomson (CF), Lou Ficocelli (CF), Carson Pennock (CF), Tom Knoepfel (CF), Jason Howell (CF) Located in downtown Vancouver, Nordstrom’s Canadian flagship store is one of the first six Canadian stores for the highly anticipated upscale fashion retailer. The redevelopment of an existing Vancouver landmark located in the centre of the downtown core makes this a noteworthy project. The distinctive Sears building’s structure was kept, but the new exterior design includes an architectural mixture of glass and stone. Nordstrom occupies 230,000 square feet on three floors, making it the largest Canadian store and the third of nine full-line stores planned for Canada. The office space component is significantly different from others in the downtown core with 73,000-square-foot floor plates, 17-foot ceilings and two landscaped atriums that offer tenants an openair amenity area.

Vendor/Owner: PCI Developments Corp. Team Members and Affiliated Companies: Perkins+Will, Triovest Realty Advisors Marine Gateway is Vancouver’s first transit-oriented, mixed-use development directly connecting the Marine Drive Canada Line station and the South Vancouver bus loop on Cambie and Southwest Marine Drive. Built to LEED Gold equivalency, Marine Gateway is home to over 750 residents, supports over 2,000 jobs and is projected to increase public transit ridership by two million per annum. This mixed-use landmark is composed of two residential towers, a 250,000-squarefoot office building and over 240,000 square feet of retail and public space. Marine Gateway’s High Street offers best-in-class service retail, entertainment and convenience shopping, supporting a vibrant hub of activity. Loblaw’s T&T Supermarket, Cineplex, Winners, Steve Nash Fitness and Shoppers Drug Mart are just a few of the many conveniences serving neighbourhood residents and workers.

Vendor/Owner: Templeton DOC LP, a joint venture between the Vancouver Airport Authority and the McArthurGlen Group Team Members and Affiliated Companies: YVR, McArthurGlen Group, McMillan LLP One of the most eagerly anticipated architectural developments of 2015, the McArthurGlen Designer Outlet brings European flair and design in the form of an open-air village-style shopping haven to Vancouver. Consisting of 77 individual retailers spread out over 240,000 square feet, the outlet features cobblestone walkways, tree-lined streets, a dancing fountain and luxury piazza complemented by a variety of facades. Inspired by iconic Vancouver architecture including the Sinclair Centre, Vancouver Rowing Club and the brick of Gastown, McArthurGlen has been created for a true leisure experience. In November 2015, McArthurGlen was awarded the prestigious Mapic Award for Best Outlet Centre, ahead of other nominated projects in France, Canada and Russia.

2016 Commercial Real Estate Awards of Excellence

Industrial Development | Finalists Award will be given to the team or individual responsible for developing the top industrial development completed during the calendar years 2014 and 2015. Selection will be based upon the quality, functionality, leasing, sustainability and financial performance of the project. Innovation will also be considered. This category shall include both multiple building projects and single building projects.

Texcan

Millennium VI

Boundary Bay Industrial Park

Vendor/Owner: Wesgroup Properties LP Team Members and Affiliated Companies: Developer Wesgroup Properties; tenant Texcan, a division of Sonepar Canada Inc. This project was a significant build-tosuit industrial warehouse and head office building for Texcan at PacificLink Business Park, Surrey. The total facility is 105,000 square feet and comprises a 75,000-square-foot warehouse component with yard and 30,000 square feet of office. Texcan’s multi-purpose industrial building is esthetically appealing and sustainably conscious. Designed and built to exceed the design guidelines for PacificLink Business Park, it enhances the atmosphere along 120th/Scott Road. In order to deal with the mass of the building, the office and warehouse functions are accommodated in two distinct volumes with contrasting colours and use of materials. The emphasis for the office component is on allowing as much natural light to flood into the office as possible, and where required, the light is modulated through the use of passive sun-shading devices. Similarly, clerestory windows are incorporated in the warehouse area to allow daylight and reduce the electrical lighting requirements. Great emphasis was placed on energy conservation, and this is the first industrial building in the PacificLink Business Park to use LED fixtures throughout the entire building, yard area and parking lot.

Vendor/Owner: Grosvenor Americas Team Members and Affiliated Companies: Architect R. Martin Cruise Architect; civil engineer Hub Engineering Inc.; electrical engineer S&A Falcon Engineering Ltd.; mechanical HVAC engineer MEC Engineering Consulting Ltd.; landscape architect PMG Landscape Architects; envelope consultant JRS Engineering; land surveyor Butler Sundwick; geotechnical assessment Levelton Consultants Ltd.; health & safety consultant Carl Savard; structural engineer Weiler Smith Bowers; broker Colliers International (Darren Cannon & Stu Morrison) Annacis Business Park in Delta is considered the distribution hub of Metro Vancouver and is home to more than 430 companies, which employ over 10,300 people. Grosvenor, the privately owned international property development and investment group, expanded from the U.K. into North America in the 1950s. Its first international acquisition was the purchase of Annacis Island for industrial development. Grosvenor currently owns about 20% of the Annacis Business Park’s GLA, including approximately 210 acres of land and nine industrial buildings comprising 1.1 million square feet. Grosvenor developed six of the nine buildings, which are referred to as the Millennium Portfolio. T he most recent development completed of these is the Millennium VI warehouse project, a 165,000-square-foot Tier 1 distribution centre at 1005 Derwent Way. The project completed in October 2015 with 102,536 square feet leased for 10 years by Direct Distribution, and 60,179 square feet leased to Orbit Distribution for a five-year period.

Vendor/Owner: Dayhu Group of Companies Team Members and Affiliated Companies: Jonathan Barnett, president and CEO, Dayhu; Paul Tilbury, COO, Dayhu; Dean Fader, vice-president, real estate, Dayhu; Tony Vigini, Wales McLelland; John Kristianson, CTA Design Group; CBRE Ltd. Boundary Bay Industrial Park is a largeformat distribution complex built by the Dayhu Group of Companies. The project was completed in two phases, each approximately 433,000 square feet and consisting of unit sizes beginning at 100,000 square feet. The project was developed on former federally owned lands at the Boundary Bay Airport and filled a void in the market for large-format space, pioneered a new industrial sub-market, included environmentally sustainable project features and offered best-in-class specifications for large-format users including being the first project built with 36-foot clear heights. This combination of features resulted in market-leading absorption as the project was fully leased within 36 months of the land purchase, a considerable achievement considering the size of the lease transactions required relative to the size of the average distribution user in Vancouver. The success of this project has led other industrial developers to begin construction on similar projects.

Advanced Integration Technology Canada Inc. Vendor/Owner: 161884 Canada Inc. (Beedie) Team Members and Affiliated Companies: Developer Todd Yuen, Beedie Development Group; designer Darcy Forcier, dForce Designs Inc.; mechanical engineer Martin Swain, Bycar Engineering Ltd.; electrical engineer Rick Tucker, SML Consultants Group Ltd.; structural engineer Kevin Lemieux, Weiler Smith Bowers Consulting Structural Engineering; tenant design Christine Baker (project manager), Advanced Integration Technology Canada Inc. T he develop er wa s presented w it h an opportunity to re-lease the subject 15-year-old industrial building after having expanded the previous tenant into a new-built to suit manufacturing building. The existing site allowed for a 40% increase in size of the existing building. The developer sought to find a tenant to backfill the 100,000-squarefoot vacancy and proceed with construction of the 40,000-square-foot addition, to either be leased as one contiguous space or create a multi-tenant facility.

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CONGRATULATIONS TO THE COMMERCIAL REAL ESTATE AWARDS OF EXCELLENCE WINNERS!!

Enjoy your successes, you deserve to be proud! Counterpoint captures visions and dreams to create friendly attractive workspaces. Brian Carroll, Ken Ly, Taylor Carroll 604-880-2248 brian@counterpoints.com | www.counterpoints.com

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2016 Commercial Real Estate Awards of Excellence

Tenant improvement | Finalists Award will be given to the team or individual responsible for developing the top industrial development completed during the calendar years 2014 and 2015. Selection will be based upon the quality, functionality, leasing, sustainability and financial performance of the project. Innovation will also be considered. This category shall include both multiple building projects and single building projects.

Expedia CruiseShipCenters

CBRE Vancouver office

LGM Financial

Bull Housser & Tupper LLP

Vendor/Owner: Oxford Properties Group and CPPIB Team Members and Affiliated Companies: Oxford Properties Group, Expedia CruiseShipCenters, Cushman & Wakefield, Procom Centrally located in downtown Vancouver between Thurlow and Burrard, Oceanic Plaza is situated near the new Fairmont Pacific Rim Hotel and the convention centre, offering spectacular views of Burrard Inlet, Stanley Park and the North Shore mountains. With Stanley Park on one side and Terminal City Club and the Vancouver Club on the other, it offers a unique combination of prestige and workplace satisfaction. Oceanic Plaza allows for easy access from any direction, by car or public transportation. Tenants also have access to the Guinness Tower fitness facility across the street and fully equipped conference rooms with 14-foot ceilings on the Pender level. These bright facilities are ideal for meetings, corporate events or training seminars.

Vendor/Owner: CBRE (tenant improvement), Oxford (MNP Tower) Team Members and Affiliated Companies: CBRE Ltd. CBRE Canada decided a cross-country workplace transformation would be the ideal way to better serve its clients and influence the Canadian real estate industry by demonstrating the benefits of integrating workplace strategy, design and employee well-being. The process began with CBRE Vancouver’s new office, which reflects the entrepreneurial and collaborative culture that CBRE prides itself on and provides an example to clients looking to realize their own workplace of the future. CBRE Vancouver found a 30,000-squarefoot space in the new MNP Tower. Integrating over two dozen evidence-based wellness designs and technologies into the space, the CBRE Vancouver office was designed with a focus on creating a highly effective work environment and a space that supports health and well-being.

Vendor/Owner: Oxford Properties Group and CPPIB Team Members and Affiliated Companies: Oxford Properties Group, Group 5 Design LGM Financial’s new corporate office is located on the top three floors of the MNP Tower. LGM wished to highlight its success by moving to the most innovative tower in Vancouver, which had to be impressive for business partners and instil pride for staff. Every space had to allow access to views and encourage visual communication. The teardrop-shaped floor plate inspired details such as the curved and stepped ceilings, conference room artglass and custom millwork throughout. The central staircase features polished granite cladding the core wall, and glass office fronts provide natural light and views through the office. Refined architecture and European furnishings create a sophisticated interior that stands out in the marketplace.

Vendor/Owner: Bull Housser & Tupper LLP Team Members and Affiliated Companies: Jo Ellen Kelly, Douglas Stimson, Erin Saucier The new Telus Garden building features large floor plates, natural light and views of Vancouver’s skyline in the heart of downtown, which was perfect for Bull Housser to reinvent its workplace. The interior design firm expresses its B.C. brand and culture through imagery and a palette of natural materials. Facilities include lawyers’ offices with Italian designed modular furniture and wall systems, a collaborative, all-staff lounge and in-house caterer. A key architectural feature of the building is the Sky Garden jutting out over Richards Street. New workspace standards and efficient space planning maximize the real estate investment. High quality and timeless finishes will stand the test of time well into the future growth of the firm.

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Development Services Real Estate Strategy Architecture

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Interior Design Engineering Construction omicronaec.com

C10

2016 Commercial Real Estate Awards of Excellence

Office Lease | Finalists Award will be given to the team or individual responsible for negotiating the top office lease completed during the calendar years 2014 and 2015. Selection will be based upon the complexity, innovation and creativity of the transaction to meet the objectives of the landlord and tenant. Market impact of the transaction will also be considered.

The Leckie Building

Oceanic Plaza

725 Granville

510 Seymour

Vendor/Owner: Talia Jevan Properties Inc. Team Members and Affiliated Companies: Colin Scarlett, Colliers; Kelvin Ng, Global Relay; Harmel Rayat, Talia Jevan Properties; Peter Tolensky, Lawson Lundell; Peter Anderson, Boughton Global Relay, one of B.C.’s most celebrated and awarded tech companies, has experienced phenomenal growth over time. It was desperate for more space to accommodate its growth and wanted to make sure its space was a big factor in employee retention/recruitment given all the U.S. tech firms that have come to Vancouver making the labour market frothy. The project came to Colin through a referral in 2003. Global Relay searched the market, but 220 Cambie Street secured its tenancy by satisfying all its requirements.

Vendor/Owner: OMERS Realty Corp. and CPPIB Team Members and Affiliated Companies: Oxford Properties Group, Expedia CruiseShipCenters, Cushman & Wakefield, Procom C r u i se Sh ip Centers wa s lo c ate d i n Guinness Tower, but wanted to merge with Expedia in Oceanic Plaza. This required the relocation of two existing tenants, which Oxford did not have a right to complete, and the termination of a third who had left the building. One existing tenant agreed to move to Guinness Tower, ex pa nd i ng to 10,000 squa re feet. The second was to occupy a newly expanded and renovated space at Oceanic Plaza in a week. Instead, they shifted temporarily to a 2,000-square-foot space before moving to MNP Tower. This allowed the retention and expansion of CruiseShipCenters to 28,500 square feet, while securing an extra 15,000 square feet with two existing tenants.

Vendor/Owner: Cadillac Fairview Corp. Ltd. Team Members and Affiliated Companies: Kayvon Besharat (Colliers), Lou Ficocelli (CF), Carson Pennock (CF), Tom Knoepfel (CF) At the beginning of 2014, Cadillac Fairview and Microsoft Canada entered into a lease agreement for two full floors in Cadillac Fairview’s new 725 Granville redevelopment. The transaction saw Microsoft lease the top two floors of what was previously the Sears department store, totalling over 143,000 square feet.

Vendor/Owner: Serra Holdings (No. 4) Ltd. Team Members and Affiliated Companies: Colliers, Serracan, Adler University, Gowlings The Adler University lease at 510 Seymour Street with Serracan Properties was the result of a truly collaborative process between the agents, tenant and developer. Colliers represented both the tenant (Dan Jordan and Colin Scarlett) and landlord (Marco DiPaolo), and was able to bring the parties together to solve a number of challenges involved with pre-leasing a space of 30,000 square feet (almost half of the building), two years in advance of the building being completed. The deal gave the tenant the required flexibility to grow or contract the space during the design process, while still providing the developer with the certainty required to complete construction of the project.

Investment Transaction | Finalists Award will be given to the team or individual responsible for negotiating the top investment transaction completed during the calendar years 2014 and 2015. Selection will be based upon the complexity, innovation and creativity of the transaction to meet the objectives of all parties involved. Market impact of the transaction will also be considered.

Metrotower III

Greater Vancouver Apartment Portfolio

Vendor/Owner: Metro Vancouver Team Members and Affiliated Companies: Bob Levine, Avison Young; Jason Mah, Avison Young; Michael Gill, Avison Young; Michael Emmott, Avison Young; David MacFayden, Avison Young; Jonathan Pearce, Ivanhoé Cambridge; Randy Wenge, Metro Vancouver T he off-market sale of the 414,000-square-foot Metrotower I I I property i n Bu rnaby by Iva n hoé Cambridge to Metro Vancouver. The largest suburban office sale transaction in 2015.

Vendor/Owner: Western Investment Properties (WIP) Team Members and Affiliated Companies: Jim Szabo, Tony Quattrin, Lance Coulson, CBRE Capital Markets The Greater Vancouver Apartment Portfolio was a premier, multi-family rental apartment portfolio comprised of 19 properties improved with 22 rental apartment buildings and a combined total of 919 apartment units. This portfolio provided investors with a truly unique opportunity to achieve immediate scale in Vancouver’s highly constrained and soughtafter rental investment market.

All finalist descriptions sourced from submitted nomination packages.

2016 Commercial Real Estate Awards of Excellence

C11

Retail Lease | Finalists Award will be given to the to the team or individual responsible for negotiating the top retail lease completed during the calendar years 2014 and 2015. Selection will be based based upon complexity, innovation and creativity of the transaction to meet the objectives of the landlord and tenant. Market impact of the transaction will also be considered.

The Carlyle Vendor/Owner: Thurlow & Alberni Project Ltd. Team Members and Affiliated Companies: CBRE Ltd. The Carlyle is at the heart of Vancouver’s emerging highend shopping district, attracting numerous international luxury brands. The CBRE Urban Retail Team, working with the ownership group, provided advice on the remerchandising strategy in all aspects. This provided holistic guidance on issues such as the handling of existing tenancies, an appropriate facade upgrade, reconfiguration of the remaining spaces and overall marketing approach. CBRE directed a diligent marketing program to gain exposure on a local, national and global level and provided a wide variety of potential suitors. The project is now occupied by De Beers and Tory Burch with deals soon to be finalized with Prada, Moncler and Jimmy Choo.

800 Burrard

McArthurGlen Designer Outlet Centre

Vendor/Owner: Oxford Properties Group and CPPIB Team Members and Affiliated Companies: Oxford Properties Group, CPPIB, Lululemon, Ledcor, CBRE Ltd. When Lululemon required a new flagship store in downtown Vancouver, Oxford Properties jumped at the opportunity. This lease originated from a conversation between Oxford and Lululemon’s agent, CBRE. With deep backgrounds in design and development, and a strong relationship with Ledcor as general contractor, Oxford Properties was able to finalize the scope of work and reprice the design, resulting in a financial structure that accommodated all parties. This transaction changed the face of the building on one of the most prominent retail corners in downtown Vancouver, and has showcased Lululemon to residents, the business community and tourists on one of the most productive retail boulevards in the world, elevating the business on all levels.

Oxford Properties is proud to be a finalist!

Queensborough Logistics Park

MNP Tower

Oceanic Plaza

Oxford proudly owns and manages commercial real estate in major downtown markets across Canada as well as New York City, Boston, Washington, DC and London, England. From new developments to marquee landmarks, our portfolio offers a vast selection of world class real estate, allowing our customers to find the right space to achieve excellence in their respective businesses. Discover why 95% of Oxford customers surveyed would recommend to their employer that they stay in their building. Make the move today.

800 Burrard CONTACT US: Chuck We, Director of Leasing 604-893-3257 cwe@oxfordproperties.com

Board of Directors 2016 Back, left to right: Beth Berry, Developing Leaders Chair, Beedie Group | Donald Harrison, National Director, GWL Realty Advisors | Dan Jordan, Breakfast Committee Co-Chair, Colliers International Inc. | Marvin Haasen, Development Issues & Gov’t Relations Co-Chair, Madison Pacific Properties Inc. | Ernie Hee, Legal Council / Gala Co-Chair, McMillan LLP | Janay Koldingness, Events Committee Co-Chair, Dialog Design | Steffan Smith, Development Issues & Gov’t Relations Co-Chair, GWL Realty Advisors | Darren Burns, Communications Committee Chair, Stantec Architecture | Gordon Wylie, Development Issues & Gov’t Relations Co-Chair, Wylie Development Corp. Middle, left to right: Stephen Smith, Breakfast Committee Co-Chair, Manulife Real Estate | Stephanie Setchell, Events Committee Co-Chair, Farrell Estates Ltd. | Darlene Hyde, Executive Director, NAIOP | Jennifer Podmore Russell, Education Committee/Gala Co-Chair, Deloitte Front, left to right: John Middleton, Past President of NAIOP, ONNI Group | Chris MacCauley, President of NAIOP, CBRE Limited | Jarvis Rouillard, Vice President of NAIOP, Triovest Realty Advisors Inc. Missing: Pav Sikham, Treasurer of NAIOP, KPMG LLP

Why become a member of NAIOP? • Local networking opportunities through monthly breakfast speaker series and events. • Mentorship Program and special events for Developing Leaders, under 35 years of age. • A triennial Commercial Real Estate Awards of Excellence Gala, to recognize the best in the industry. • Industry and market information—through breakfast speakers, special publications and the chapter

website, www.naiopvcr.com • Access to the NAIOP Canada Sustainability Blog’s wide collection of articles, reports, case studies

and other sustainability-related works • The Annual Cost of Business Report—which reviews the effectiveness of local municipalities in

addressing office and industrial development projects. • Educational opportunities—through seminars, webinars and symposiums, including the annual

Developers’ Symposium. • The “Icon Speaker” series, which provides access to the top tier of industry leaders. • Weekly e-bulletins which keep the membership up to date on industry news and events. • Legislative voice with municipal and provincial officials—through our Development Issues and

Government Affairs Committee. • Active online community, allowing members to join the conversation, grow their networks, and

obtain the latest commercial real estate news at

 @NAIOPVancouver  NAIOP Vancouver Group

NAIOP Vancouver represents commercial real estate developers, owners and investors of office, industrial, retail and mixed-use properties. It provides strong advocacy, education and business opportunities and connects its members through a powerful North American network. NAIOP truly reflects the pulse of the commercial/industrial/development industry in Greater Vancouver. It provides its diverse membership with a valuable network of industry professionals, a powerful forum to exchange ideas, economic information and market news, and a collective voice to lobby for regulatory debate and change. NAIOP works for members year round to enhance market knowledge and exposure, to help streamline the industry, and provide a healthy sprinkling of camaraderie and fun. The Vancouver Chapter of NAIOP is one of 51 chapters within an extensive network that represents the interests of developers and owners of industrial, office and related commercial real estate throughout North America. NAIOP’s Award Winning annual Cost of Business Survey provides a benchmark for performance of over 21 municipalities in the Metro Vancouver area with respect to their development costs and ease of doing business.

For more information on NAIOP – Vancouver Chapter or any of its events, please visit the website at www.naiopvcr.com, email office@naiopvcr.com or call 604.601.5106