NAI Commercial

Canada’s Economy Outperforms in 2010

2010-11-16T16:31:00.000-08:00

2011 Outlook is for Slower but Continued Growth

The Canadian economy, led by exports and a strong commodity cycle, performed well through 2010. Anchored by a stable banking sector, the Canadian economy out-performed most other economies in the developed world. GDP growth is expected to be 3% for 2010. But the overall economy faces headwinds going forward. In particular, a weak U.S. dollar has driven the Canadian dollar towards parity, slowing our trade with our largest trading partner. And an already slow recovery in the U.S. will keep a lid on Canadian growth prospects for 2011. The result is a slower growth of GDP, now forecast at 2.3% for 2011.

The Canadian economy has gained back all the jobs lost during 2008 and 2009, but the unemployment rate remains steady at 8%. There is modest employment growth forecast for 2011 but also considerable slack in the economy. While the Canadian real estate recovery is not exactly v-shaped, as we enter 2011 the supply-demand characteristics of this sector appear balanced in most markets. Liquidity has normalized. REITS and other publically traded real estate investors raised substantial amounts of equity capital in 2010. While banks and investors are cautious, there is increased investment and construction activity occurring.

The ownership of commercial real estate in Canada, especially the best located real estate, is concentrated in pension funds, REITS and large domestic corporate investors. The best assets remain in relatively strong financial hands with conservative leverage employed. These pools of capital are looking to the U.S., Europe and Asia to satisfy the demand for high quality real estate. With the Canadian dollar close to par with the U.S., there is increasing interest by these investors in U.S. real estate assets.

Land prices firmed throughout 2010 in most markets across the country. Generally, cap rates compressed and interest rates declined slightly. Transaction volumes are no longer constrained by lack of financing but will remain slow due to low supply of good quality product. There is little evidence of distressed real estate in Canada.

Greg McPhie
NAI Commercial, Managing Partner, B.C.

BMR Le Groupe acquires the building housing its headquarter in Boucherville.

2010-11-01T16:38:00.000-07:00

Paul-Eric Poitras, senior associate at NAI Commercial is proud to announce the sale of Ampère in Boucherville to BMR Le Groupe. The 160,750 sq. ft building built in 1977 and renovated in 1996 sits on a 387,420 sq. ft. lot and was sold for $7,500,000 which represents $46.87 per sq. ft. This commercial and industrial property has 28 foot-high ceilings as well as an excellent view of highway 20. Paul-Eric Poitras represented both parties in this transaction. This sale represents the largest industrial transaction on the South Shore in 2010 so far.

25,000 sq ft Building Lease Renewal for Le Groupe Master SEC

2010-10-19T14:02:00.000-07:00

NAI Commercial is helping Le Groupe Master SEC with the renewal of a lease in Saint-Laurent. Paul-Eric Poitras and Alain Coté were hired for the renewal of the 25,000 square feet building on Lebeau Street in Ville Saint-Laurent. They have negotiated a long-term agreement with Rosdev to the satisfaction of both parties. The space is currently being used for administrative offices, a warehouse and a store. The space will also be renovated.

Subleased for Havi Logistics' First Class Distribution Facility in Richmond, BC

2010-10-05T13:50:00.000-07:00

Cole Maedel & Aleem Thaver of NAI Commercial represented sub-landlord Havi Logistics to sub-leased 46,946 sf of first class distribution facility at 21771 Fraserwood Way, Richmond, B.C.
to H-Cold Storage. Transaction Value: $2.95 Million.

Sub-Leased 38,000 sf First Class Distribution Facility in Calgary, Alberta

2010-10-04T13:57:00.000-07:00

Stuart Myron and Daniel Goldstrom NAI Commercial Calgary represented Havi Logistics sub-lease 38,000 sf first class refrigerated distribution facility at 11195 - 42nd St SE, Calgary to Transcold Distribution. Transaction Value: $1.855 Million

$12 Million Court Ordered Sale Multi-Residential Development Site in Surrey for HSBC Bank Canada

2010-08-18T10:08:00.000-07:00

NAI Commercial is pleased to announce the Court Ordered Sale of the property at 13718-100th Avenue in Surrey, B.C., for HSBC Bank Canada. The property totals 2.49 acres – zoned multi-residential for a total of 662,000 square feet of buildable space – with an asking price of $12.9 million. The Buyer was Concord Pacific, currently completing the neighbouring Infinity Towers.

The transaction was done by Senior Vice President & Managing Broker Gary Haukeland and J-D Murray of our Vancouver Office. For more information, contact Gary Haukeland and J-D Murray at (604) 683-7535 or Greg McPhie, Managing Partner – B.C. at (604) 691-6643.

Intermark Transport Inc. is installing their facilities in La Prairie, Quebec

2010-07-12T15:14:00.000-07:00

Intermark Transport Inc. has been looking to move to a new larger location for a while. With the help of NAI Commercial, Intermark Transport Inc. was able to acquire a class “A”, industrial building, located at 800 Saint-Jose in LaPrairie. This 30,000 square foot building, sitting on over 300,000 square feet of land, will serve as a hub for Intermark’s business across Canada.

Important Project in Saint-Hubert, Quebec

2010-06-22T14:56:00.000-07:00

NAI Commercial is pleased to have participated in an important project in Saint-Hubert. The Coopérative funéraire de la Rive-Sud will be set up on a redeveloped site on Boulevard Cousineau and Route 116.

Transformation of the former Teddy’s restaurant site will require works costing some $2.5M, to include expansion of the existing building from its current 5,300 square feet to 8,250 square feet. Agents Richard Sauvé and Alhassane Bah accompanied the seller and the purchaser throughout this transaction.

Recent Apartment Buildings Sold in Coquitlam and Burnaby

2010-04-15T13:53:00.000-07:00

NAI Commercial, Vancouver - NAI Commercial agents Terry Harding and Jackson Tang sold the following:

Deal: 48-unit apartment building, Austin Ave, Coquitlam. Sold for vendor Smallwood/Vine to buyer Robert Lee Ltd. Price: $5.17 million

Deal: 36-unit apartment building on Gilmore Ave, Burnaby. Sold to buyer Richland Ent. Price $4.4 million.

NAI Commercial Langley & Market Reports

2010-03-23T11:55:00.000-07:00

We are pleased to present you with NAI Commercial Langley & Abbotsford Market Reports for 1st quarter of 2010.

Our reports provide you with:

Overview of Abbotsford and Langley commercial real estate market.
Trends and facts of commercial properties as well as HST commentary.

Please review the report, and we would appreciate any feedback you may have on our market report. We look forward to be of service to you during 2010.

NAI Commercial Top Advisors 2009

2010-02-18T16:59:00.000-08:00

We are proud to present NAI Commercial’s Top 10 Advisors in Canada for 2009. This elite group reflects the hard work, dedication and client service that is absolutely necessary to succeed in today’s commercial real estate market.

Congratulations to each of you. You make us proud!

Serving across the Canadian market, this group and their colleagues at NAI Commercial can provide a full range of commercial real estate brokerage services to meet any need.

NAI Commercial is proud be ICSC Whistler 2010 sponsor

2010-01-25T10:32:00.000-08:00

NAI Commercial has sponsored ICSC event in Fairmont Hotel, Whistler, BC from January 10 -12, 2010. We were pleased that about 1,700 mostly Canadian professionals attended this year's Whistler Conference.

Canada's shopping centers and retailers should anticipate continued strong consumer spending this year, ICSC Chairman James E. Maurin, CSM, said Monday at this year's ICSC Whistler Conference here.

Christmas season sales rose 5 percent in November and December, Maurin said, and that capped an increase of 4.3 percent for the 10 months leading to the season. A strong job market is keeping personal income levels high. The economy created about 228,000 jobs last year, which brought the unemployment rate down to its lowest level in four years.

Housing starts were nearly 6 percent higher last year than the year before, and observers anticipate moderate economic growth of between 2.5 percent and 3 percent for this year. Consumer spending is partly responsible for this growth, Maurin noted, “as Canadian consumers have continued to support economic activity and have been a key factor behind the nation's GDP growth.”

The International Council of Shopping Centers (ICSC) is the global trade association of the shopping center industry. Its 60,000 members in the U.S., Canada and more than 80 other countries include shopping center owners, developers, managers, marketing specialists, investors, lenders, retailers and other professionals as well as academics and public officials. As the global industry trade association, ICSC links with more than 25 national and regional shopping center councils throughout the world.

NAI Commercial Multi-Family Market Report Greater Vancouver

2010-01-22T11:01:00.000-08:00

We are pleased once again, to present you with the NAI Commercial Multi-Family Report for 2010.
Our report provides you with:

all the multi-family transactions for 2009 with historial
comparisons with 2007 and 2008
CMHC's Average Rent survey for the fall of 2009
separate analysis of wood-frame transactions and
concrete high-rise transactions
an overview of the Vancouver Regional Market
separate identification of the 15 submarkets in the region
market insight into the Vancouver, Burnaby and Fraser Valley markets for the coming year
our "Best Bets" for 2010

Please review our data carefully and we would appreciate any feedback you may have on our report. We look forward to be of service to you during 2010.

NAI North American Industrial Site Selection Index and International Property Guide

2009-10-27T16:02:00.000-07:00

As a result of sharp reductions in consumer spending, the first six months of 2009 were a transition period characterized by corporate expense reductions and re-alignment of most firms' internal cost structures. As of the third quarter 2009, the European Union and some Asian economies have halted several quarters of contraction and are beginning modest growth. The U.S., Canada and Mexico hope to see similar growth by year end. Click on the top to view the International Property Guide

Click on the left to view North Amercian Site Selection Index

New Toronto Member of NAI Commercial

2009-10-26T13:09:00.000-07:00

Welcome Ashlar Urban Realty as the new Toronto member of NAI Commercial. Ashlar is led by Craig Smith who founded his firm in 1999.
Craig specializes in investment sales and downtown office leasing, but his full service firm of 15 agents operate throughout the greater Toronto market area. We look forward to Craig and his firm re-establishing the NAI Commercial brand in the GTA.

If you are looking for commercial real estate opportunities in Toronto, please contact Craig Smith at (416) 205-9222.

New Regina Member of NAI Commercial

2009-10-01T13:05:00.000-07:00

Welcome ICR Real Estate of Regina as the newest Canadian member of NAI Commercial. ICR is led by three principal owners; Paul Mehlsen, Jim Kambeitz and Evan Hubick. They lead a ten person full service commercial brokerage and property management practice that has operated throughout Saskatchewan for the past 22 years. Effective October 1, 2009, they will be re-branded to NAI Commercial.

They are the #1 commercial broker in Southern Saskatchewan. If you are looking for commercial real estate opportunities in Regina, Saskatchewan, please contact Mr. Paul Mehlsen at (306) 525-3344

The Largest Industrial Moving & Storage Business in BC - Pro Industrial Contractors Ltd Sold

2009-08-10T16:28:00.000-07:00

Vancouver, B.C.—(August 10, 2009) — NAI Commercial is pleased to announce the sale of the business assets of Pro Industrial Contractors Ltd. (Pro-Tech Industrial Movers), the largest industrial moving and storage business in B.C.

After the completion of the transaction on July 10, 2009, Pro Industrial merged with Apex Industrial Movers, a division of Pacific Blasting and Demolition Ltd. The owner of Pro Industrial, Neil Mullen, will stay on as the General Manager of the combined entity to ensure a seamless transition and further growth of the company. In addition, Pro Industrial’s 44,000 square foot building was leased.

Alf Sanderson, Vice President of our Vancouver office’s Business Advisory Practice negotiated and provided the principle business elements of the merger.

For more information, contact Alf Sanderson at (604) 691-6646 or Greg McPhie, Managing Partner-B.C. at (604) 691-6643.

NAI Global Enhances Coverage of Toronto Market with Ashlar Urban Realty

2009-07-17T14:12:00.000-07:00

NAI Global, the world’s premier managed network of commercial real estate firms and one of the largest real estate services providers worldwide, announced today it is enhancing its coverage in Canada with the signing of Ashlar Urban Realty in Toronto. The firm will now operate as NAI Ashlar Urban.

Based in Toronto, and serving the greater Toronto market including Downtown Toronto, Mississauga, Peel and Durham Regions, NAI Ashlar Urban is a privately owned Canadian real estate brokerage specializing in office and retail leasing, investment sales, and advisory services. The firm offers acquisition/disposition services, landlord and tenant representation, lease negotiation, portfolio disposition and development services to its roster of more than 3,000 clients. In 2008 alone, the Ashlar team closed more than $125 million in property sales and leased more than 430,000 square feet of space.

“The Ashlar Urban team is a growing force in Toronto’s downtown core and periphery areas,” said Jeffrey M. Finn, NAI Global President & CEO. “Their deep local knowledge and relationships and strong market position greatly enhance our coverage in this important international city.”

“The key to our success is our team’s willingness to go beyond the brokerage role to partner with our clients, fully understanding their real estate needs and objectives,” said Craig G. Smith, President, NAI Ashlar Urban. “With expertise in the investment, leasing and retail sectors, we provide our clients with an intimate knowledge of the Toronto real estate market as well as other Canadian markets, enabling them to make the most informed, intelligent decision about their investment in real estate.”

NAI Ashlar Urban is the newest addition to NAI Global’s Canadian Network, which includes 10 additional offices operating under the NAI Commercial umbrella in Calgary, Edmonton, Gatineau, Halifax, Langley, Montreal, New Westminster, Ottawa, Vancouver and Victoria.

NAI Ashlar Urban is located at 350 Bay Street, Suite 400 in Toronto, Ontario. Headquartered in Princeton, New Jersey, NAI Global manages a network of 325 offices and 5,000 professionals in 55 countries across the globe.

NAI Commercial's Top 10 Advisors in Canada

2009-03-09T13:13:00.000-07:00

We are proud to present NAI Commercial’s Top 10 Advisors in Canada for 2008.This elite group reflects the hard work, dedication and client service that is absolutely necessary to succeed in today’s commercial real estate market. These experienced professionals are at the top of their profession. They know their markets intimately and are connected locally and globally.

NAI Global Honors NAI Commercial Montreal with Eagle Award.

2009-02-27T14:16:00.000-08:00

NAI Commercial Montreal in Montreal, Quebec, was recognized by NAI Global with its Eagle Award for performance in 2008. The Eagle Award recognizes the NAI member firm that best exemplifies the Right Stuff—a composite of leadership, capital and resources; commitment to quality; the desire and energy to grow; and sharing the NAI Global vision for excellence in commercial real estate services. The awards were presented in a ceremony on February 12 at the NAI Global 2009 Convention in Las Vegas. NAI Global is the world’s premier network of commercial real estate firms and one of the largest real estate service providers worldwide. Based in Princeton, New Jersey, NAI Global manages a network of 5,000 professionals and 325 offices in 55 countries. NAI professionals complete over $45 billion in transactions annually.

Sponsoring the ICSC event in Whistler, B.C.

2009-01-10T16:12:00.000-08:00

NAI Commercial has sponsored ICSC event in Fairmont Hotel, Whistler, BC from January 11- 13, 2009.

The International Council of Shopping Centers (ICSC) is the global trade association of the shopping center industry. Its 75,000 members in the U.S., Canada and more than 80 other countries include shopping center owners, developers, managers, marketing specialists, investors, lenders, retailers and other professionals as well as academics and public officials.

NAI Commercial Sponsors Dr. Peter Linneman at the Toronto Real Estate Forum

2008-12-01T13:03:00.000-08:00

NAI Commercial is pleased to sponsor keynote spearker Dr. Peter Linneman at this year's Toronto Real Estate Forum. Peter Linneman, NAI Global's Chief Economist, will appear on the Forum stage on Wednesday morning, December 3rd 2008.
Linneman will be providing his perspective on the outlook for the U.S. economy in 2009 and will share what he foresees in terms of trends, challenges and opportunities for the real estate asset class in the U.S. market going forward.
Dr. Linneman is also Professor of Real Estate, Finance and Public Policy at the Wharton School of Business, University of Pennsylvania, and Principal in Linneman Associates.
Follow Dr. Linneman on NAI Global's Blog here.