This reliance on an approach that is “easy to calculate” got us wondering what are some of the proxies we use in commercial real estate that provide a quick synopsis of some aspect of the market, and do they suffer similar shortcomings as BMI does in being a proxy for state of health.
The good news for Ottawa is that it is the location of the head office for the Government of Canada. The associated constancy and the credit covenant of the federal government adds stability to the office market here. The federal government employs over 140,000 people in the Greater Ottawa area in a labour force of […]
The Ottawa Real Estate Forum 2017 took place in October on the Tuesday of the week the Amazon HQ2 bids were due on that Thursday. Not surprisingly, the Amazon requirement worked its way into most of the presentations and panel discussions throughout the day. Fortunately, one of the active participants in preparing the Ottawa/Gatineau bid […]
Here in Ottawa the federal government dominates the office market. It employs roughly 140,000 people in a 700,000-person work force, its need for space is predominantly office, and in many ways drives innovation for the office market in terms of its standards for accommodations. Not surprisingly, private sector landlords pay close attention to federal government […]
Shopify announced in March 2017 that it will be expanding its Ottawa headquarters by leasing new accommodations at 234 Laurier Avenue West which will increase its size by 325,000 square feet and about 3,000 employees beginning this year. This is fantastic news for Shopify, the Ottawa tech ecosystem, and the Greater Ottawa area in general. […]
Originally posted December 2015 I have been having an internal debate about what I am missing in the economics of leasehold improvements. I wonder if there is some magic in leasehold improvements I have failed to grasp that others have known for a long time. Is there some unaccounted for value in an office […]
Originally posted 29 October 2015 I always find it interesting to tour new buildings, whether office or industrial or retail facilities, as more than likely they are state of the art for all sorts of building systems, construction techniques and design considerations. The “new” days are glory days for a building – strong tenant […]
Originally published in the Ottawa Business Journal 01 March 2012. I am still struggling with what to do in a “balance sheet recession.” That is what Canadian investor Stephen Jarislowsky described as the outcome of the Lehman Brothers collapse – a recession driven by everyone looking to repair their individual balance sheets and inflicting […]