Vancouver Real Estate Forum. April 23, 2009

Transcription

1 Vancouver Real Estate Forum April 23, 2009

2 Topic: Retail What Does the Future Hold for this Asset Class? How will the US retail story play out in Canada and BC?

3 Panelists Michael Beattie, Grosvenor Americas Darryl Schmidt, Cadillac Fairview Geoff Stollery, Best Buy Canada Bob Tattle, Anthem Properties Group

4 Michael Beattie Senior Vice President - Portfolio Management GROSVENOR AMERICAS

5 About Grosvenor Grosvenor is a privately owned property group active in some of the world s most dynamic cities. We recognise that our future success as a business is tied to the sustainable growth of the cities in which we have a presence. We have a vested interest in the future shape of the urban landscape and aim to help create attractive and vibrant cities in which people want to live and work.

6 Grosvenor Group

7 North American Markets

8 Americas Year-End 2008 Review

9 Darryl Schmidt Senior Director of Leasing, Western Portfolio CADILLAC FAIRVIEW

10 One of North America s largest owners, developers and managers of prime office, commercial and retail real estate.

11 Cadillac Fairview Canadian Retail Locations

12 Cadillac Fairview - Canadian Retail Western Portfolio(6): Chinook Centre, Market Mall, Pacific Centre, Polo Park, Richmond Centre, The Bay Centre Ontario Portfolio(9): Fairview Mall, Fairview Park, Georgian Mall, Lime Ridge Mall, Markville Shopping Centre, Masonville Place, Rideau Centre, Sherway Gardens, Shops at Don Mills TEC Portfolio(4): Erin Mills Town Centre, Hillcrest Mall, The Promenade, Toronto Eaton Centre TD Portfolio(1): TD Centre Eastern Portfolio(8): Cataraqui Town Centre, Champlain Place, Le Carrefour Laval, Fairview Pointe Claire, Les Galeries d Anjou, Les Promenades St. Bruno, McAllister Place, Regent Mall 28 Retail Centres within Cadillac Fairview s $16 billion portfolio. Retail - 8,896,000 sq. ft. Office - 13,926,000 sq. ft.

13 Bob Tattle Vice President Business Development ANTHEM PROPERTIES LTD.

14 OVER $1.5 Billion IN REAL ESTATE TRANSACTIONS SINCE 1991: 5,000 APARTMENT UNITS 1,600 CONDO UNITS 4.5 million SQ FT RETAIL 1.6 million SQ FT OFFICE 1,100 SINGLE FAMILY LAND LOTS 110 ACRES INDUSTRIAL LAND

15 Current Portfolio 23 SHOPPING CENTRES 700 CONDO UNITS 115 ACRES OF LAND 2 INDUSTRIAL BUILDINGS 2 OFFICE BUILDINGS 1 HOTEL

16 Geoff Stollery Director - Real Estate BEST BUY CANADA LTD.

17

18 Future Shop Store Growth BC: : 21 AB: : 17 SK: : 3 MB: : 5 ON: : 56 QC: : 29 NFLD: 1 NS: 3 PEI: 1 NB: 3 Total Future Shop Stores at End of Year 2005: 119 Total Future Shop Stores at End of Year 2006: 121 Total Future Shop Stores at End of Year 2007: 131 Total Future Shop Stores at End of Year 2008: 139 Projected Future Shop Stores at End of Year 2009: 142

19 Best Buy Store Growth BC: 8 AB: 9 SK: 1 MB:2 ON: 28 QC: 9 NS: 1 Total Best Buy Stores at End of Year 2005: 45 Total Best Buy Stores at End of Year 2006: 47 Total Best Buy Stores at End of Year 2007: 51 Total Best Buy Stores at End of Year 2008: 58 Projected Best Buy Stores at End of Year 2009: 63

20 Store Growth FY06 FY07 FY08 FY09 FS STRS BBYSTRS

21 NORTHWEST ATLANTIC Chris Wood Northwest Atlantic (Canada) Inc. Brokerage is now celebrating 17 years as a fully integrated real estate consulting firm specializing in the representation of retail chains and end-users of retail real estate. Northwest Atlantic acts as an extension of our clients in-house real estate department The founding Principals are still active in client representation and day to day real estate transactions Northwest Atlantic employs 21 leasing professionals in its Toronto and Vancouver offices, including the Principals, a full-time in-house professional demographic department and 8 senior support staff Divisions specialize in both outdoor locations and enclosed centres Northwest Atlantic continues to operate as a boutique firm representing best in class retailers and offering an unparalleled level of customer service.

22 Real Estate Clients - West

23 Real Estate Clients - East

24 Bank of Canada Rate and Fed Funds Rate

25 Stock Market Indices

26 Consumer Confidence

27 Retail Sales

28 In Retail Development and Retailing-Change is the Only Constant! Change or Die

29 Shopping Centre GLA per Capita Canada = 14.0 sf / capita U.S. = approx sf / capita Relatively little competition for retailers in Canada

30 Retailers and Developers are Faced with the Same Challenges Show me the money The New Money Reality... Developers Need: $ to Acquire $ to Build $ to Finance Retailers Need: $ to Purchase Goods $ to Build-Out Stores $ to Pay & Retain Staff

31 Financing Renovations New Construction Mixed Use Lender Requirements

32 Vancouver Real Estate Forum - April 2009 Presented By: Darryl Schmidt

33 Pacific Centre - Post Renovation

34 Pacific Centre Post Renovation

35 The Rise - Vancouver

36 The Rise - Vancouver

37 Station Square Metrotown, Burnaby

38 The future is what we make of it Change is the only constant!