Leasing Out Loud: Recent Episodes
Laurae Spindler
Your information source for all things Commercial Real Estate! Laurae Spindler and Lori Suba are commercial real estate brokers in Calgary, Alberta, Canada with Scout Real Estate Ltd. Laurae and Lori have a combined 30 years experience in the business and now bring their expertise to this podcast. Episodes will tackle various commercial real estate topics like property taxes, the leasing process and include interviews with industry leaders.
We were thrilled to sit down with Amanda Blacktopp, Manager of Industry Relations with REDI Canada to discuss the role that REDI plays in educating commercial real estate industry members and learn about REDI's program offerings. REDI is Canada's leader in real estate development education and real estate pre-licensing courses - www.redicanada.org.
Amanda is a very busy woman, in addition to her role with REDI she also serves on the board of CREW Calgary and works on the Government Affairs Committee with the Building Owners & Managers Association (BOMA). She also owns and runs a firm - YYC Condo Review, providing valuable expertise to ensure condo real estate transactions run smoothly and effectively - www.yyccondoreview.ca.
Amanda is passionate about improving public safety, promoting inclusive and diverse spaces as well as educating future real estate professionals.
York Realty is a privately held, family-owned real estate landlord and developer of primarily industrial assets, founded 1985 in Edmonton, Alberta. Andrew Rudzitis, Director, joins us this episode to fill us on how they're setting themselves apart!
York Realty has rolled out York+ which expands their service offerings to deliver any real estate solution. York+ includes distinct advantages including turnkey Design Build services, Sale-Leasebacks with York Price Guarantee, No Penalty Growth, JV's to offer owner/user equity opportunities, Solar Array Leases where Tenant's save on their utility costs, and more...
Andrew shares detailed insight on how each of these offerings, along with York's core values (hint: responsiveness, tenancy and doing the right thing are just a few) can benefit a tenant or owner/user.
You can learn more about Andrew Rudzitis and York Realty at the links below:
York Realty and York Group of Companies
Andrew Rudzitis (LinkedIn)
Thanks for listening!
On this episode, Jessica Theroux of Couillard Group walks us through the ins and outs of corporate insurance and financial planning strategies. Jessica's background on the commercial brokerage side provides great insights and perspective for our listeners around ways business owners and brokers/landlords can protect themselves from the unexpected.
As always, planning and a proactive approach are critical for success.
You can find out more about Jessica and Couillard Group at www.couillard.ca.
Thanks for listening,
Laurae & Lori
On this episode of Leasing Out Loud, Tracy Hawes of Scout Real Estate shares insights around trust accounts and deposit cheques to be mindful of in Alberta. Ensuring you are compliant with RECA is critical.
We hope you find this information helpful!
Thanks for listening,
Laurae & Lori
On this episode of Leasing Out Loud, we sit down with Melissa Ferguson - President & Broker of Symmetry Commercial Real Estate to discuss the ins and outs of commercial property management.
Melissa shares great tips for new and veteran property managers to maximize success & offers some great insight for business owners and brokers about what to keep in mind when negotiating a lease.
Check out Melissa's new course on property management! You can find information & contacts for Melissa on her website - www.symmetrycre.ca. She also has a direct link to her property management course at www.melissafergusoninc.ca.
Thanks for listening,
Lori & Laurae
On this episode of Leasing out Loud we dive into the value (or lack thereof) of lease comparables and strategies that may provide a clearer picture of how your vacancy or building stacks up against the competition.
Thanks for listening!
Laurae & Lori
This episode we dive into FINTRAC with Tracy Hawes, Manager of Corporate Services at Scout. She shares some information and tips on what FINTRAC is, why it is important and the steps brokers need to complete to ensure we meet FINTRAC regulations.
The landscape of commercial real estate financing has changed dramatically with the Bank of Canada raising rates 8 times in the last 12 months. How is this impacting the market for borrowers? What are lender's looking for in deals? What are the different types of financing available? How much time is needed to work through the financing process?
This episode, we're thrilled to be joined by Libby Keyser, Senior Vice President at MillarForan, who shares a wealth of information with us.
Libby and MillarForan are experts in commercial real estate financing and help borrowers to find and secure financing that is aligned with their goals and needs.
MillarForan specializes in real estate financing and specifically in investor properties (third party lease income as opposed to owner-occupied). MillarForan is an independent local firm, that exclusively represents Borrowers (Landlords, developers, public cos/REITs, Investment funds). Their primary focus is on institutional quality first mortgage financing, lowest cost of capital, in all CRE asset classes including CMHC. For more information, check out their website: https://www.millarforan.com/
We are excited to share another jargon-busting episode, diving into the differences between use and zoning and why is it an important consideration for those looking to lease space (especially on the industrial side!)
The City of Calgary has a great matrix to see what uses are allowed based on the zoning for a particular parcel of land/building - https://www.calgary.ca/content/dam/www/pda/pd/documents/calgary-land-use-bylaw-1p2007/lub-matrix-by-use-1p2007.pdf
Thanks for listening!!
Laurae & Lori
In this episode, we start off 2023 right with an update on property taxes and discuss considerations for commercial owners. Brock Ryan, Senior Director of Property Tax at Altus Group, shares not only a great year in review for 2022, but also discusses what property tax impacts we might expect to see in 2023.
In addition to his work with Altus Group, Brock also is a strong supporter of REET Institute - an organization dedicated to supporting the advancement of BIPOC representation in commercial real estate. You can learn more about REET Institute at https://reetinstitute.ca/.
Thanks for listening,
Lori & Laurae
On this episode of Leasing Out Loud we explore hybrid work models. What considerations should be made to realize success!
Big thanks to our special guest, Edward Tsang of MTA Architecture & Interior Design, sharing his expertise and insight on this hot topic.
Thanks for listening,
Lori & Laurae
This episode we explore what Landlords and Tenants can do to set themselves up for success in Calgary's leasing market. There are always deals to be had and in our opinion responsiveness, preparation and clarity win the day...everyday!
Thanks for listening,
Lori & Laurae
Time for another jargon-buster episode of Leasing Out Loud!
In this episode, we dive into some common terms used in commercial leasing to share what they mean and the implications for tenants.
We hope you find this helpful,
Lori & Laurae
We are pleased to have Shannon Pestun on the podcast this week, demystifying the commercial real estate financing process for our listeners. She covers not only the process but also the implications of operating in a market with high inflation and threats of a recession looming. Shannon provides valuable insights into what business owners should consider before embarking on a real estate investment journey and what is needed to realize a successful outcome.
Shannon is a proud Cree/Metis woman who is highly experienced and sought after for her finance and business acumen. As a former banker turned entrepreneur she offers a unique perspective for this interview.
Shannon currently serves in the following capacities:
1) Co-Founder of Finance Cafe
2) CEO & Chief Disruption Officer at Pestun Consulting Inc.,
3) Business Mentor with Canadian Film Centre
4) Sr Advisor Banking & Finance with Women Entrepreneurship Knowledge Hub
5) Member, Board of Governors with Mount Royal University
Thanks for listening!
Laurae & Lori
For this first fall episode, Laurae & Lori discuss current market conditions for the industrial and office markets in Calgary. The name of the game is being armed with information and market knowledge to make the best decisions....and, of course, giving yourself enough time to work through the process!
Thanks for listening!!
On this episode, we recap an excellent season of Leasing Out Loud and chat about key trends in office/industrial commercial real estate market in Calgary.
We will take a break from recording over the summer and will be back behind the mic in September 2022.
Have a great summer everyone!
Laurae & Lori
This episode we were thrilled to welcome Dan Houston, President of AgriPlay Ventures Inc., to chat about the cool things they are working on in the world of tech and the impact it will have on Calgary's commercial real estate market.
Dan has worked in commercial real estate since 2003. Along the way, he has gathered first-hand experience of the technology trends currently taking hold of the commercial real estate industry.
That experience fuelled his interest in future technologies even as it left him convinced that the commercial real estate market is ill-prepared for what’s coming it's way. He says the next five to 10 years may be more transformative and disruptive to the commercial real estate market than the last century.
That belief and his passion for technology fuel his professional pursuits. Along with his partners, Dan dedicates himself to developing the next generation of Smart Cities technologies, including in the areas of distributed ledger, AI, data science and data aggregation.
Hope you enjoy the episode - you can find Dan at https://www.agriplay.com/about-us.
Thanks for listening!
Laurae & Lori
In this episode, we dive into why a tenant might elect to use a broker to renew a lease, and why it may be advantageous to have a broker at the table from the Landlord's perspective.
Brokering is all about bridging the gap and the right broker can be a great asset for both parties when examining a lease renewal scenario.
Thanks for listening,
Lori & Laurae
This episode of Leasing Out Loud we dive into the pros and cons of taking down space in a business centre vs traditional leasing. Why would a start-up consider a business centre concept instead of committing to a traditional office lease?
Thanks for listening,
Lori & Laurae
This 411 mini-series episode we dive into the wonderful world of show suites. Why do Landlords utilize them in the office market in Calgary? What's the target size and finish? How can show suites accelerate leasing?
We hope you find this helpful!
Thanks for listening :)
On this podcast episode we share how to calculate monthly rent obligations and share some additional cost items to be mindful of when considering leasing space for your business. We also provide feedback on how Landlord's typically calculate a deposit.
We hope you find our 411 info series helpful!
Thanks for listening :)
Lori & Laurae
YYC and YEG, two Alberta cities with differences yet a lot of similarities. This episode, we're taking a deeper dive beyond the Battle of Alberta to compare our industrial markets, both the fundamentals and market trends. We're thrilled to welcome Bronwyn Scrivens with Omada Commercial to the podcast! Bronwyn is a fellow Commercial Real Estate broker in Edmonton, specializing within the industry market and Omada is a fellow boutique firm in Edmonton, Alberta that is busy and growing.
We discuss similarities such nearby regional competitors offering property tax advantages that is attracting a lot of development, our educated skilled labor force and of course entrepreneurial spirit. But we certainly have our differences including the type of industrial users that make up each market. Hint, 3 hours drive makes a difference!
You can find Bronwyn on LinkedIn (follow her to see Warehouse Crush Wednesdays!), Instagram @commercialconnection and at https://bronwynscrivens.com/.
On this episode of our first special 411 series, we talk about industry jargon and share the dish on some commonly used acronyms. We hope our business owner and new industry member listeners find this helpful. Tune in for more great industry info with our 411 series.... future episodes coming your way soon!!
Thanks for listening,
Lori & Laurae
We had a great time connecting with Megan Chwiecko, Principal of Block Interior Design Inc. in YYC to learn about the design/construction process and the time frames tenants and landlords need to consider when planning a build-out. Megan shares great insight around some of the potential obstacles with supply chain constraints and the design process overall. She offers great advice for business owners considering a commercial build-out!
Block Interior Design Inc. ( https://www.blockinc.ca) recently celebrated its 5th year anniversary and is active with a variety of interesting projects in Calgary.
Thanks for listening!
Lori & Laurae :)
In this episode, we explore the proposed YYC Rivers District and the impact the development (including the arena) could have for YYC on a tax, economic and socio-economic basis. We are thrilled to interview our returning guest, Brock Ryan (Senior Director, Altus Group), for his take on what this really means for the City.
Spoiler - there's more to the story than hockey!
Thanks for listening!
Lori & Laurae
Be sure to check out a great initiative Brock Ryan & Altus Group are supporting - REET Institute. The REET Institute is a non-profit organization focused on educating and empowering BIPOC youth in the Edmonton area to become commercial real estate professionals. More info here - https://reetinstitute.ca/
We had a terrific conversation this episode with Elyse Tomie, Director of Leasing at Royop Development Corporation. Elyse shares valuable insight on market trends and a great update on their retail developments in Calgary.
You can find out more information about Royop here - https://royop.com/
Thanks for listening,
Lori & Laurae
This episode we explore strategies that Landlords and Sublandlords can use to realize success with their leasing efforts. In Calgary's competitive landscape, there are ways to stand out in the pack!
Thanks for listening :)
Laurae & Lori
The market is pretty active on the industrial side in YYC these days! Tune in to this episode to learn more about what industrial tenants can expect when on the hunt for space and ideas to maximize success.
Thanks for listening,
Lori & Laurae
This episode of Leasing Out Loud we provide an update on various aspects to consider when considering a new lease deal, relocation, or renewal. In terms of securing construction drawings, permitting and, lease negotiations - time is your friend!
Have a great week & thanks for listening!
There has been a lot of media attention covering supply chain delays, increased materials costs and other impacts the pandemic is having on the development industry. We were excited to have D'Arcy Brown of Enright Capital join us to discuss how active developments in YYC are being impacted. D'Arcy helps us understand how he and the team at Enright have adapted and remained competitive with active and future development projects underway. Enright has celebrated recent successes with completed developments as well as announcing new projects.
Enright is a leading commercial real estate developer based in Calgary and is a prime example of entrepreneurial spirit in YYC. They are diverse in their offering, developing in multiple asset classes with office, retail and primarily industrial buildings, as well as lease options and condo bay purchase opportunities. For more information on Enright, their current project and their team, visit their website: http://www.enrightcapital.com/
Thanks for listening!
We had a great time reconnecting with Brock Ryan, Senior Director Property Tax at Altus Group for an update on property taxes across office, industrial, retail, hotel, and multifamily asset classes in Calgary. We also discuss the platforms of a few front running mayoral candidates with regards to taxes and possible policy impacts.
Brock, as always, offers colourful, candid commentary. Great information for our tenant, landlord and broker listeners.
We were thrilled to interview Calgary entrepreneur, Joanne Young, for this episode as we explored the benefits of greenery within office settings and discussed some of the trends she's seeing in the interior landscaping industry. Greenery is an important consideration as businesses focus in on fitting out inspiring, healthy workplaces.
Joanne founded Greenery Office Interiors in 1977 and built an award winning plantscaping firm providing interior plant design and plant rental services to Calgary businesses. Thanks for joining us Joanne!
Happy listening :)
On this episode we recap a great season and give a big thanks to all of our podcast guests!
Have a great summer, we're back behind the mic in Sept 2021.
Lori & Laurae
On this week's episode of Leasing Out Loud, we discuss some of the key characteristics and red flags to watch for when engaging a commercial real estate professional. There are many great brokers in Calgary, we share suggestions on how to select the right one for you!
Thanks for listening.
On this week's episode we discuss tenant urgency in the Calgary market, and how it differs by asset class. We also chat about drivers of activity and one big shift in the Calgary market that is having an impact office demand.
Thanks for listening!
This week we chat about the current market conditions in Calgary and how the landscape differs by asset class. We discuss the toll lockdown #3 is having on the leasing process, and provide some tips to our listeners to help navigate the chopping waters of Calgary commercial leasing.
Thanks for listening!
Getting an insurance certificate to gain access to your new space takes time, more time these days than you'd think!
In this episode we share some feedback from the insurance community on how much time to give yourself to get your insurance ducks in a row. No insurance means no access, so it's an important consideration.
Thanks for listening!
What do you do when you are in more space than you need?? Don't run on the lease...sublease! In this episode we explore how subleasing works and some of the things for businesses to consider when planning to sublease space.
Thanks for listening!
This week Laurae walks us through the basics of industrial zoning and what to consider when making a move to a new industrial property. Understanding what zoning your business requires determines what properties you can occupy. As always, time is your friend when it comes to securing necessary municipal approvals.
Thanks for listening!
We had a great conversation this week with Christy Thompson, Senior Design Market Manager at Haworth in Calgary. Christy shares how organizations are re-imagining and innovating workplaces in light of Covid-19, and sheds light on how quality interiors support an effective return to office strategy.
Thanks for listening!
On this weeks episode of Leasing Out Loud we dream of a post pandemic world and what the workplace of the future might look like. Inspiration for this episode came from Avenue Magazine's write up on the Future of Offices - https://www.avenuecalgary.com/city-life/the-future-of-offices-in-post-pandemic-calgary/.
We share what we'd like to see in terms of a future workplace and ask our listeners to participate in a LinkedIn poll on Scout Real Estate Ltd's page to share their thoughts.
Thanks for listening!
This week we share some insight on personal indemnities and why they are cropping up more and more given the current market conditions in Calgary. Why do Landlords want them? Why is it problematic for a Tenant? How can we structure a deal to provide comfort on both sides of the table? We answer these questions and more!
Thanks for listening!
On this episode of Leasing Out Loud we digress from our typical 'commercial only' focus to chat about what's happening in the residential sector in YYC. Despite a challenging economic climate in Calgary, news articles report record high levels of demand. This week we chat anecdotally about some of the reasons for the surge.
Thanks for listening!
In this episode of Leasing Out Loud we explore the difference between useable area and rentable area, how rentable area is calculated and why it's an important consideration when exploring options to lease.
Have a great week!
On the heels of a recent piece in Business in Calgary in March 2021, we sat down for a great conversation with our friend and industry colleague Catherine Grygar, real estate lawyer & partner at Stikeman Elliott.
Conversation topics span diversity and inclusion in the workplace, importance of industry networks (like CREW Calgary) and common red flags to keep an eye out for on a lease. Catherine also shares how lawyers can be an asset in the leasing process.
Thanks for listening :)
https://www.stikeman.com/en-ca/people/catherine-grygar
On the heels of an article in the Calgary Herald talking about parking costs as a barrier to visiting the core, we thought it would be timely to explore parking rates and whether or not this is a barrier to visiting and operating a business in Calgary. There are always multiple viewpoints - we'd like to hear yours! Please participate in our survey on Scout Real Estate's LinkedIn profile to weigh in on the topic.
From your perspective, are parking costs a deterrent to visiting and operating within Calgary's downtown core? Or, is it just the cost of doing business?
Thanks for listening!
Article Reference:
https://calgaryherald.com/news/local-news/corbella-calgary-city-council-broke-our-downtown-and-blame-others-for-their-mess
Everyone knows the three R's, Reduce, Reuse, Recycle. This episode, we're joined by two industry members who are active in YYC's Strategic Decommissioning world, which aims to reuse as many construction materials & fixtures as possible when space is vacated.
Mark and James are passionate about the positive environmental, economic and social impacts that happen when industry members come together to connect the dots. We talk about recent successes in YYC and the growing opportunity for landlords, tenants, business owners and non-profit organizations to not only divert significant amounts from the landfill, but positively impact our local communities and save money while doing it! Mark and James share just what can be reused (hint: it's a surprisingly long list) and share some stats from recent projects that will get you excited (hint: 90% landfill diversion!).
Mark Stables a 22 veteran of the moving industry specializing in commercial, industrial, retail and office relocations. Mark’s passion is creating & implementing a plan for Strategic Decommissioning as it relates to FF&E(Furniture, Fixtures & Equipment). Mark believes that Calgary needs a comprehensive strategy for sustainability, landfill diversion and a viable circular economy benefitting Calgary & area charities and not-for-profit's, with the potential millions of pounds of excess corporate assets over the next 3-5 years. Mark is a Business Records Storage & Commercial Relocation Specialist with Tippett-Richardson in Calgary.
James Lowe is a member of the senior leadership team at Lignum Interiors. Lignum is a Calgary-based Project Management and Construction Advisory company specializing in Institutional and Commercial Interior construction. For almost 40 years, the team at Lignum have been at the forefront of Calgary’s construction industry and are known for their depth of technical expertise, high-quality project delivery, and unparalleled commitment to client success.
On this week's episode, we are explore the various definitions of rent. In a world where tenants are increasingly focused on the bottom line, it's important to understand how a lease deal is structured.
Thanks for listening!
Laurae & Lori
Join us for a fun interview with Rob Blackwell (COO @ Aspen Properties) where we learn about some of the interesting and innovative projects Aspen has on the go in Calgary. Rob provides an update on the redevelopment at Sun Life Plaza, PropTech initiatives, and how Aspen is promoting Alberta as a great place to be.
Thanks Rob for a great conversation!
Happy listening,
Lori & Laurae
https://www.aspenproperties.ca/
Join us for a fun discussion on the commercial real estate industry where we dive into how we got into the business, what we love and what we don't love. We offer some tips for those considering a career in commercial real estate.
Thanks for listening :)
But we aren't talking about optional exercise after serious pandemic snacking ;) In this episode we explore exercising options to renew - why are renewal options negotiated into a lease, why would a tenant exercise their option and why would they not.
Thanks for listening!
Man, there is a lot of commercial space in Calgary! Whether you are looking for office, industrial or retail opportunities the list of available options is a long one. In this episode of Leasing Out Loud we provide some context in terms of just how many options are out there, and share some insight into how one goes about looking for space to operate a business. Thanks for listening :)
Join us as we check in with Eve Renaud for a discussion on the current retail landscape in Calgary. We discuss where we see activity, and explore opportunities and challenges in YYC's retail market.
This episode, we are having a socially distanced remote discussion to talk about a listener question "Why do the ceiling heights in warehouses keep getting higher?" Ceiling heights have grown from 12' high which was common in older generation warehouses built in the 1960's to now 36' high in a few of Calgary's newest developments. Why have warehouses evolved to 3x the height and what businesses need these type of facilities? Is there still a market for the older generation product? Join us as we tackle these questions and more.
Wishing you & yours a safe, healthy & joyous holiday season.
Thanks for listening and we'll be back with fresh episodes in 2021!
Calgary, heavily focused on the oil and gas sector, is sometimes referred to as a 'one trick town'. This got us thinking - are we similar to other cities focused on one industry, like Detroit? Join us for a great conversation with Detroit broker and attorney, Krystol Rapphun of Beanstalk Real Estate Solutions, where we discuss the Calgary and Detroit real estate markets, diversification and recovery.
Thanks for listening!
Lori & Laurae
https://beanstalkres.com/
This is a question we hear often! It is certainly no secret but it is often misunderstood; and rightfully so as it depends on multiple factors! Join us as we describe exactly how real estate brokers get paid, including who pays fees (and when), how it differs from a lease or a sale, and how it also differs depending on the type of real estate (ie. industrial vs. office vs. retail).
Thanks for listening!
What is Vertical Farming? One of our listeners reached out with the same question, and wondered if it might be a solution for Calgary's vacancy challenges. We're thrilled to have Dan Berezan join us this week to share his expertise. Dan is the Founder of Cultivatr.ca, an On-line Farmers Market based in Calgary, Alberta. Dan is passionate about supporting local food producers and artisans. He also knows the challenges with Vertical Farming and helps us understand where we are unlikely to see local food production, as well as where he sees current and future opportunities!
The recent Cenovus / Husky merger has spurs a lot of discussion and prompted questions to Lori and Laurae asking, what exactly is Ghost Vacancy? Join us as we discuss what the buzz word Ghost Vacancy means and what the implications could be for the Calgary market.
Join us this week as we explore various timing considerations for your lease deal. This conversation covers the basic steps involved in finding a new location and common conditions in an offer to lease, with typical timelines required to check each box.
Thanks for listening!
We're talking property tax in this episode of Leasing Out Loud! Join us for a great conversation with Brock Ryan, Senior Director at Altus Group, where we explore how property tax works in Calgary and how taxation strategies impact our local business and development sectors.
For more information on Brock Ryan: www.linkedin.com/in/brock-ryan-07282b3
For more information on Altus Group: www.altusgroup.com
We reference an article released on the day of recording, here is a link: https://leaderpost.com/opinion/columnists/varcoe-how-to-sell-a-25-tax-hike-calgarys-tax-shift-set-to-squeeze-industrial-property-owners-next-year
Join us for our first interview podcast...with Eve Renaud! Eve serves as Retail Advisor & Associate with Scout Real Estate and VP of Rencor Developments. She is a seasoned retail real estate expert and in this episode shares her thoughts on the current state of retail in Calgary, and what's to come!
We talk about the current retail development Bingham Crossing:
www.binghamcrossing.com
Join us for Episode 2 where we share stats highlighting the impact of COVID-19 on the industrial, office and retail markets in Calgary and discuss the influence of market segmentation on deal structures. Thanks for listening!
Join us as we launch the Leasing Out Loud podcast!
In this episode, we provide background on Scout Real Estate, our team experience, and why we decided to do a podcast.
Thanks for listening :)