Overview of the office, retail, industrial and multi-unit residential markets in Edmonton: investment, leasing and development

Overview of the office, retail, industrial and multi-unit residential markets in Edmonton: investment, leasing and development

08 May 2024|REF Club
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Amit GroverAmit GroverPrincipal, Multifamily at Avison Young

Amit Grover has been a Commercial Real Estate Broker specializing in Multifamily apartment sales for over 15 years. Through the last decade Amit has seen a number of trends occur in the Edmonton Multifamily market, from the condo conversion boom of 2006 and the plethora of new suburban development in 2014 to the vertical downtown core developments being announced today. Having worked with private investors of every size, medium and large scale REITs and pension funds, Amit truly understands every facet of the Alberta Multi-Family market, regardless of the economic climate. Amit was previously a Senior Vice President at Colliers International and brings his experience to the Edmonton Avison Young office as Principal, with the Multifamily team. Amit has sold over 5,000 apartment units and 42 acres of infill and suburban land across Alberta. His total asset sales to date exceeds $815M.

Lisa BaroldiLisa BaroldiPresident & CEO at BOMA Edmonton

Lisa Baroldi is an accomplished business and community leader, currently serving as the President and CEO of Building Owners and Managers Association Edmonton (BOMA Edmonton). Her career spans various roles, including senior advisor to the Canada-UAE Business Council, executive director of an economic development authority in Northern Alberta, and CEO of Progress Unlimited, a business services consulting firm.

With a master's degree from the Norman Paterson School of International Affairs and degrees from institutions like L'institute d'études politiques de Lyon and the University of Alberta, Lisa's academic prowess complements her practical achievements. Notably, she co-founded Designing Downtown, a national intercity exchange, demonstrating her commitment to city building and innovation.

Lisa's contributions have been recognized through numerous accolades, including selection for the Governor General's Canadian Leadership Conference and being named one of Edmonton's Top 40 under 40 and Alberta Venture Magazine's Ten Rising Stars. With a proven track record of securing funding and driving impactful initiatives, Lisa continues to make significant strides in both business and community development.

Mark AndersonMark AndersonVice President at CBRE Limited

Mark Anderson has worked with CBRE for the last 14 years and is currently Vice President and a leader of the Edmonton Office Advisors Team. Mark’s practice ranges from advising startups on their individual real estate strategy to representing large institutional clients on their real estate portfolios. Mark is also Vice Chair of the Board of Directors for the Edmonton Downtown Business Association and a foundation member for the Edmonton Space and Science Foundation at Telus World of Science. Mark was recognized for his community involvement and leadership in the commercial real estate industry in 2023 as one of Edify’s Top 40 Under 40.

May CuanMay CuanPartner at Omada Commercial

May Cuan is a Partner with Omada Commercial. She specializes in retail leasing and sales, working on behalf of clients to achieve their long-term real estate goals. She commenced her real estate career with Colliers International in 2015 and has been with Omada Commercial since its inception. Prior to brokerage, May was a senior sales associate for seven years with a national fashion retailer, Aritzia. May’s focus is to cultivate trust and strong relationships with clients. She strategically assists Tenant clients by identifying prominent real estate and negotiating advantageous lease terms for Tenants to gain market share and expand across Western Canada. For Landlords, she represents independent owners, developers, REITs, and management firms to successfully lease assets. May has a Bachelor of Commerce degree with Distinction from the University of Alberta. Born in Havana, Spanish is her first language. She’s an avid traveller, cross-country skier and enjoyer of all food.

Rod ConnopRod ConnopExecutive Vice President, Industrial at Colliers

Rod Connop has been the leading producer within the industrial division of Colliers Edmonton office since 1996. His in-depth knowledge and professional guidance has provided tangible benefits to all clients; and, in turn, earned him an excellent reputation with all participants of the industrial real estate market. Rod’s strategic thinking and opinions are in demand as he participates in various presentations including an ongoing role as moderator at the Edmonton Real Estate Forum. Rod has extensive experience in industrial transactions covering a wide spectrum and including simple lease and turnkey lease, design build, build-to-suit/leaseback, sale/leaseback, construction management, sale of land, sale of vacant building to end users and the sale of leased investment properties.

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Description

A detailed examination and insights on some of the notable leasing and investment deals in the apartment, industrial, office, and retail markets in the Edmonton region over the past twelve months. How much leasing and investment momentum has the Edmonton market experienced in 2023 and the first half of 2024? What is the outlook for the remainder of 2024 and beyond? Who is buying and selling when transaction volumes are low? What are the market fundamentals at this time, e.g. vacancy rates, absorption rates, and cap rates? How much development is in the pipeline? What were some of the notable investment transactions in the year so far?

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