BOMA Edmonton Spring 2013 by Business in Edmonton Magazine

BOMA BEST PROGRAM A PRIORITY FOR ASSOCIATION PRESIDENT IN YEAR ONE

EDMONTON

Citywide:

8.3%

Central Business District:

6.9%

Financial Vacancy: AA A B C

6.9% 9.0% 5.3% 5.7% 6.8%

Government Vacancy: A B C

6.9% 8.9% 6.3% 3.1%

Vacancy: A B C

10.7% 9.2% 11.0% 15.6%

hen Benjamin Shinewald joined BOMA Canada in early 2012 as the association’s new president and chief executive officer, he took no time in laying the groundwork for the continued success of the Association’s marquee program, the Building Environmental Standards (BOMA BESt) program. BOMA BESt was launched in 2005 by BOMA Canada to address the industry’s needs for realistic standards for energy and environmental performance of existing buildings based on accurate, independently verified information. Armed with the continued support of the volunteer board and eleven local BOMA chapters, the association’s CEO plans to maximize the value of the program and to expand. The hiring of Hazel Sutton, manager of environmental standards, prior to Benjamin’s arrival was followed by a lengthy recruitment process for the director of environment and energy, John Smiciklas. Together, the new BOMA BESt team will grow BOMA Canada’s leading energy and environmental certification program. The annual BOMA BESt Energy & Environmental Report (BBEER) highlights issues of importance to the commercial real estate industry and is a leading resource for best practices in efficient and effective building management and operation. Featured in the report are BOMA BESt certified build-

ings from across the country along with performance benchmarks on the state of the commercial real estate industry across the six key areas of environmental performance and management. BOMA Canada is currently consulting with stakeholders in preparation for the next BBEER, which will be presenting 2012 building data. A tenant engagement toolkit is being developed with the help of numerous stakeholders to provide building owners and managers across Canada with the resources needed to reach out to building tenants and visitors and engage them in environmental efforts. In addition to assessment surveys for several asset types such as office and light industrial buildings, retail plazas, and shopping centres, and a new assessment survey for multi-unit residential buildings, BOMA Canada is getting close to rolling out a health care module. To further support the program, BOMA Canada most recently launched its BOMA BESt Strategic and BOMA BESt Technical Committees and looks forward to the guidance and technical support these two national committees will provide. The newly launched National Advisory Council, an exclusive network of senior commercial real estate leaders providing the officers and board of BOMA Canada with strategic perspectives on the state and trends of the real

O F F I C E

VAC A N C Y 2012 - Q4

Absorption 2012 Q4 Citywide: 400,976 sf Downtown: 262,200 sf Suburban: 138,776 sf

www.bomaedmonton.org | BOMA Edmonton Newsletter | March 2013

estate industry, will also serve as an invaluable resource for the program. BOMA Canada’s annual conference and exhibition, BOMEX®, will be held October 1 – 3, 2013 in Halifax, Nova Scotia and will offer strategies and solutions of interest to those pursuing building excellence. The National Awards Gala, held during the same time, will recognize outstanding buildings from across the country. BOMA BESt is now a mandatory entry requirement for the Gala awards. With over 1,537 currently certified buildings as of December 31, 2012, BOMA BESt has more energy and environmental third-party verified data for existing buildings than any other program in North America. BOMA BESt continues to help many building owners and managers realize greater energy and water efficiencies for their buildings, improve the sustainability of Canada’s built environment, and improve the quality of life for building occupants – a priority shared by countless stakeholders across Canada. About BOMA Canada: Established in 1944, BOMA Canada is a dynamic federation comprised of over 3,200 members in the industry representing over 2.1 billion square feet in office space in Canada. As a Federation, BOMA Canada has 11 local associations1 located in 9 provinces across Canada, two of which are based in Alberta and Ontario. BOMA facilitates national initiatives and the exchange of ideas that support its member associations in the promotion of education, advocacy, recognition of excellence and networking. For more info visit www.bomacanada.ca 1 The eleven members of BOMA Canada are BOMA British Columbia, BOMA Calgary, BOMA Edmonton, BOMA Regina, BOMA Manitoba, BOMA Toronto, BOMA Ottawa, BOMA Québec, BOMA Nova Scotia, BOMA New Brunswick (which provides some services in Prince Edward Island) and BOMA Newfoundland and Labrador.

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March 2013 | BOMA Edmonton Newsletter | www.bomaedmonton.org

CURRENTS OF WINDERMERE: BRINGING A LITTLE CITY TO THE SUBURBS W

elcome to Currents of Windermere, conveniently located in southwest Edmonton just off Anthony Henday and Terwillegar Drive. Currents of Windermere is Edmonton’s premium new shopping destination and a lifestyle centre that features quality retailers, convenient services, exciting entertainment and dining experiences. Built around a central common, Currents will offer more than 1.4 million square feet of retail and office space spread along easy-to-navigate streets and boulevards. The design features a pedestrian friendly environment where shoppers are able to freely explore the natural beauty and great shopping that Currents has to offer. Popular retailers such as Wal-Mart, Home Depot, Safeway, Canadian Tire and London Drugs are here and we are proud to be home to many Alberta “first” retailers such as the only Cabela’s Outdoor Outfitters, the first and only VIP Cinemas (operated by Cineplex), and Western Canada’s largest liquor store, Wine and Beyond. If you are ready for a meal, there’s plenty of dining available with everything from Swiss Chalet to Montana’s to Chili’s to casual fare from Quizno’s, Opa! and Edo Japan. Services including Canadian Imperial Bank of Commerce, Alberta Treasury Branch, TD Canada Trust, QNails and Beaner’s Fun Cuts for Kids are open for business. In April, Cineplex Odeon Windermere and VIP Cinemas opened its doors, the first of this concept in Alberta. With 11 screens, the 49,000 square foot state-of-the-art theatre features seven traditional auditoriums, one UltraAVX™ auditorium and three VIP Cinema auditoriums. The luxurious VIP cinematic experience is available to movie-goers 18+ and offers reserved seating in large leather seats with expanded legroom and moveable tray tables. The Ultra AVX theatre is the next level of cinema with a giant wall-to-wall screen, crystal clear digital projection, an immersive sound system and large rocker chairs. Cineplex Odeon Windermere and VIP Cinemas also have a diverse selection of food offerings for guests to enjoy. The theatre is the first in Edmonton to offer Poptopia, a premium brand of popcorn created by Cineplex and sold in a variety of unique flavours such as cookies and cream, all dressed and more. Burg-

Fully integrated tenant solutions

MONTANA’S, CURRENTS OF WINDERMERE

WINE AND BEYOND, CURRENTS OF WINDERMERE

ers, hot dogs, pizza and frozen yogurt are also available. The licensed lounge for guests 18 years of age and older features an expanded menu that includes delectable fare such as calamari, chicken wings and wraps. For lovers of wine and specialty spirits, a visit to Wine and Beyond is a must. The store is Western Canada’s largest liquor store in terms of product selection and size with approximately 20,000 square feet of retail space. Wine and Beyond carries over 6,000 wines, 2,500 spirits, and 1,800 beers from over 44 countries. Other store highlights include tasting bars, wine education classrooms, and in-store experts. Wine and Beyond complements the existing convenience-focused Liquor Depot, which opened at Currents in 2011. As construction continues throughout 2013, we anticipate summer openings of Tutti Frutti Frozen Yogurt, Jugo Juice, Chatter’s Salon and Urban Radiance Medical Aesthetics Spa, to name a few. The Currents Medical Wellness Centre will be a 60,000 square foot facility and home to Medical Imaging Consultants (MIC) as well as a full offering of medical services that will serve southwest Edmonton. It is expected to open in the fall of 2014.

WE HAVE A STRONG NATIONAL PRESENCE TO HELP SERVE THE DIVERSE NEEDS OF OUR TENANTS

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www.bomaedmonton.org | BOMA Edmonton Newsletter | March 2013

The final development phase at Currents involves the construction of an Urban Village, which will feature fashion retailers and a unique mix of service oriented tenants alongside entertainment and food services. The heart of the Village will be Towne Square, a community gathering place and a centre of activity for things to do in southwest Edmonton, with programmed community and entertainment events throughout the year. By combining aesthetically pleasing, pedestrian friendly urban village architecture with attractive retailers and services, Currents of Windermere embodies the next step in the evolution of open-air shopping centres – selection with personality and convenience.

For more information, visit Currents of Windermere at www.shopcurrents.ca or contact Harvard Developments Inc. at (780)413-7060. Harvard Developments Inc. provides a full range of real estate services which focus on creating value assets. Dealing in commercial, office, retail, industrial and investment markets, nationally and internationally, the company has an exceptional record of performance in leasing, property management, development and the acquisition and divestiture of properties. Harvard Developments Inc. is a Hill Company, celebrating 110 years of breaking new ground.

INNERSPACES BUSINESS FURNISHINGS INC. BY LANE JOHNSON

nnerspaces Business Furnishings Inc. represents design driven industry leaders in Commercial Business Interiors. We have been committed to filling spaces in the Edmonton marketplace for over 20 years. Projects are made easy while we take care of all the details from the simplest space of 80 square feet to Edmonton’s top architectural buildings in design. We invite you to find out why we are the choice of Edmonton’s most trusted design firms, facility managers, leasing agents, purchasers and the citizens of Alberta. We are comprised of an in-house team which includes a full service Architectural Wall Division made up of sales, designers, project management, and office administration. Some of the areas in which this team operates include architectural products, full-height moveable wall systems and space planning. Innerspaces is the DIRTT Modular Interior distribution partner in Edmonton, servicing central and northern Alberta. Working closely with DIRTT, we are able to create customizable, sustainable architectural interiors. Using state-of-the-art ICE® software, a Java-based 3D application, we design solutions not only for movable walls, but also for millwork and plug n’ play power and data. All aspects of design are fully customizable, allowing our clients virtually unlimited freedom. The key to DIRTT’s flexibility is technology. Using ICE® and ICEvision® intuitive software, our designers can design a project from scratch or integrate an existing AUTOCAD drawing into ICE®, minimizing the potential for errors. We use this software for many purposes including but not limited to creating interactive environments in real time using clear, graphic communication to design, envision, specify,

March 2013 | BOMA Edmonton Newsletter | www.bomaedmonton.org

DIRTT SHOWROOM AT NEOCON 2012

LEFT - LUNCHROOM DESIGNED BY DIRTT WITH CUSTOM PRINTED GLASS. CENTRE - DIRTT MILLWORK IS IDEAL FOR HEALTHCARE, EDUCATION, CORPORATE AND COUNTLESS OTHER APPLICATIONS. RIGHT - DIRTT SHOW PIECE INCORPORATING RECLAIMED WOOD.

price, manufacture and deliver any product open to modification. ICE速 eliminates the potential for human error or possible design misrepresentation by a third party, cutting down lead times and reducing unnecessary product waste. With manufacturing facilities in Arizona, Georgia, Texas (opening soon), Calgary, DIRTT is able to service greater North America. These facilities are not only used for manufacturing, but also for educating and showcasing the latest

innovations from DIRTT. We are very proud to be partnered with DIRTT and are eager to demonstrate all that is DIRTT through an interactive presentation at your workplace, in our working showroom, or through a tour of the Calgary facility.

www.bomaedmonton.org | BOMA Edmonton Newsletter | March 2013

BOMA EDMONTON REACHES OUT TO POST SECONDARY STUDENTS BY PERCY WOODS, BOMA EDMONTON, EXECUTIVE VICE PRESIDENT

ast year the BOMA Edmonton board of directors decided the organization needed to take proactive steps to ease the staffing and recruitment problem many of the members were facing. An ad hoc recruitment committee was formed to look at what BOMA could do to attract people into the industry. Shaun Wuschke of Bentall Kennedy (Canada) LP and the 2012 BOMA Edmonton President asked the committee to look at how BOMA members could connect with post-secondary students and encourage them to consider commercial real estate as a career. Having already become a partner with the University Of Alberta (U of A) School Of Business through a donation to the Melton Chair in Real Estate, the committee reached out to MacEwan University and the Northern Alberta Institute of Technology (NAIT) to see if there were opportuniNAIT CAREER FAIR - BRAD MARCHAND, KEVIN ROBINSON, CAROLE LAJOIE ties to connect with their students. Both institutions were quick to provide BOMA’s recruitment comBrad Marchand from Bentall Kennedy (Canada) LP and a mittee with a list of how they could help connect with the member of the education committee said, “The Career Fair students and programs that would graduate potential hires was a great chance to introduce NAIT students to commerfor commercial real estate. cial real estate as a career option and to start the promotion At the November board meeting, the BOMA Edmonton of an under-promoted industry. I had a chance to talk to sevBoard of Directors accepted the recruitment committee’s eral power engineering students and give them new options recommendation to invest in partnerships with MacEwan, apart from Fort McMurray to consider when they complete NAIT and the U of A. The committee further recommended their training. I even had one eager student hand me his rethat recruitment be added to the membership committee’s sume and we will be interviewing him shortly.” mandate to ensure the investment in post-secondary instituOn January 23, BOMA Edmonton attended the reception tions would foster an interest in the commercial real estate for the MacEwan Business School’s Amazing Case Study industry among Edmonton’s post-secondary students. Competition. This event, sponsored by BOMA Edmonton, The partnerships with the U of A, MacEwan and NAIT involved eight teams of four student members that competed have already started to reap rewards and provide opporover two days to prepare and present a case study of a busitunities to interest students in commercial real estate. On ness problem. The winning team is awarded $1,000 while January 22, BOMA Edmonton was a participant in the NAIT second and third place competitors receive $800 and $400 Career Fair. This annual event attracts over 6,000 students respectively. from NAIT’s various programs. Percy Woods, BOMA Edmonton executive vice president, Laura Sharen, Harvard Property Management Inc. and was one of the judges. “This was a great experience and a Education Committee Chair was one of the volunteers at wonderful time to watch the students present their soluthe BOMA booth. “It was a great day and I really enjoyed tions. I was impressed by how they were able to apply what my time connecting with dozens of students. It was gratifythey have been learning in preparing the case. But the real ing to give the students information about our industry. They upside to BOMA participating in the event was that the stuwere very eager to learn about us. Many of them said they dents have already approached the program chair to ask her would add commercial real estate as a potential area to look to schedule a pizza night so they can get more ‘face time’ for work when they graduate.” with BOMA members.”

March 2013 | BOMA Edmonton Newsletter | www.bomaedmonton.org

MACEWAN UNIVERSITY AMAZING CASE STUDY COMPETITION TEAMS WITH PERCY WOODS, BOMA EDMONTON EXECUTIVE VICE PRESIDENT

The University of Alberta will be hosting the second Annual Alberta School of Business Real Estate Industry Night on February 6. This will be a networking and information gathering session that will attract 50 – 75 commerce and MBA students. BOMA and industry members will connect with students and provide them with a better understanding of the commercial real estate industry. “As the 2013 president for BOMA Edmonton, I am really encouraged by the increased emphasis BOMA is putting on recruiting new people to the industry and am particularly gratified by the results we have already seen in the short time we have been working on this. I look forward to more exciting things from the committee and for opportunities for

BOMA members to connect with more students as we continue our partnerships with the U of A, MacEwan and NAIT,” concludes Tony Prsa of Harvard Property Management Inc. “BOMA Edmonton is a professional organization that exists to serve the needs of its members. The organization will represent the industry to outside parties and act as a resource for information on issues relevant to the membership.” BOMA stands for Building Owners & Managers Association. BOMA Edmonton offers its members an excellent opportunity to meet other professionals in their field on a social basis. Meetings provide members with a valuable forum for the sharing knowledge and information that assists with effective and efficient day-to-day operations. BOMA Edmonton monitors and lobbies pertinent legislative, regulatory and codes/standards issues, including electricity deregulation, capital gains tax relief, telecommunications, indoor air quality, private property rights and risk assessment.

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