How to Green a Nation Office Market Overview Presented to: GREENBUILD 2009 Presented by: Nancy Searchfield, Searchfield LEED® AP, AP CCIM Canadian Leader, Brokerage Sustainability Sales Representative, Brokerage Colliers International 416-777-2200 [email protected] a cy sea c e d@co e s co Vice Chair, Canada Green Building Council November 12, 2009 Information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but we cannot guarantee it. All properties subject to change or withdrawal without notice. Colliers Macaulay Nicolls (Ontario) Inc., Brokerage and certain of its subsidiaries, is an independently owned and operated business and a member firm of Colliers International Property Consultants, an affiliation of independent companies with over 240 offices throughout more than 50 countries worldwide. McGrath/reports/FC Additional Rent 2006 Information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but we cannot guarantee it. All properties subject to change or withdrawal without notice. About Colliers International z Full-service real estate company tracing our roots to 1898 z Among the first commercial real estate organizations to recognize the importance of local knowledge on a global l b l scale l z Globally: y 61 countries y 12,700 employees in 294 offices y 1.1 billion sf under management z Canada: y 1,019 employees in 22 offices y 52 million sf under management McGrath/reports/FC Additional Rent 2006 Colliers’ Social Responsibility Colliers z World Green Building Council (WorldGBC) y Founding Global Partner of WorldGBC, WorldGBC financial sponsor y Founding Sponsor & member of Board of Directors: - Brazil: Gold, Argentina: Gold, Colombia: Platinum - Others underway in South America, Europe & AsiaPacific z Canada Green Building Council y Nancy Searchfield, Vice Chair, Board of Directors y Premium Sponsor of 1st two National Summits – 2008 & 2009, organizing committee 2010 y One of lead organizers of Pilot Projects for Office/Banks (33 M sf) and Retail Banks (ongoing) McGrath/reports/FC Additional Rent 2006 Major j Canadian Office Markets By Province Office Space in Canada’s Major Urban Centres (Million sf) 60.4 M 69.7 M 6.2 M 219.3 M 71.8 M United States 10.7 M 235 million sf Downtown 203 million sf Suburban 438 million sf total United States Note: Over 1 billion sf total office space in Canada McGrath/reports/FC Additional Rent 2006 Microsoft Canada One of first major green office buildings in Canada (2002) Colliers represented tenant, Microsoft Photos courtesy Sweeny Sterlingson Finlayson, Architects McGrath/reports/FC Additional Rent 2006 Early LEED® Buildings in Canada Vancouver Island Technology Park, Victoria, BC LEED-NC Gold (2002) Sehmiahmoo Library & RCMP Office, Surrey, BC LEED- NC Silver (2004) McGrath/reports/FC Additional Rent 2006 White Rock Operations Bldg., Whiterock, BC LEED- NC Gold (2003) Vancouver National Works Yard, Vancouver, BC LEED- NC Gold (2004) Toronto,, Ontario RBC Royal Bank of Canada First green skyscraper in Canada – 1.375 Million sf LEED Gold candidate Announced 2005, completed Fall 2009 Developer: Cadillac Fairview Property Corporation Colliers represented RBC/RBC Dexia – 775,000 sf lease McGrath/reports/FC Additional Rent 2006 Toronto,, Ontario Another 2 Green Skyscrapers Bay-Adelaide Centre 1 1 Million sf 1.1 sf, 50 storeys LEED-CS candidate, targeting Gold Developer: Brookfield Properties Completion Fall 2009 McGrath/reports/FC Additional Rent 2006 25 York Street, Union Tower 780 000 sf, 780,000 sf 30 storeys LEED-CS candidate, targeting Gold Developer: Menkes Developments Completion Fall 2009 Calgary, g y, Alberta Eighth Avenue Place 1.8 Million sf Canada’s first pre-certified Gold LEED CS Office Tower Listed with Colliers International McGrath/reports/FC Additional Rent 2006 Canadian LEED Projects j Landlords / Developers Companies with registered and/or certified LEED® NC/CI projects in Canada McGrath/reports/FC Additional Rent 2006 Canadian LEED Projects j Occupiers Companies with registered and/or certified LEED® NC/CI projects in Canada McGrath/reports/FC Additional Rent 2006 How Green is My Building? McGrath/reports/FC Additional Rent 2006 BOMA BESt z BESt: “Building Environmental Standards” z Next evolution of BOMA Canada's Go Green program z Formerly a 2-level system (Go Green and Go Green Plus) z Now a 4 4-level level rating system for operation of existing buildings (Levels 1-4) z Over 1,000 certifications across Canada McGrath/reports/FC Additional Rent 2006 z z z z z z z z z z z z z z z Bentall Real Estate) Services (120) Societe immobiliere du Quebec (69) Oxford Properties (41) Cadillac Fairview Corporation (39) Manulife Financial (33) Ontario Realty Corporation (33) SNC-Lavalin ProFac Inc. (27) y Advisors Inc. ((26)) GWL Realty Morguard Investments Limited (24) Alberta Infrastructure & Transportation (23) SITQ (10) 20 Vic Management (9) C Crown P Property t M Managementt (9) Brookfield Properties (7) …and others CaGBC Vision Fall 2006 Board Meeting z Desire to engage the office building sector: y Pilot projects to be run simultaneously while adapting US LEED-EB for Canada y Goal to include benchmarking, building performance audits, workshops, LEED action plans y Target as many landlords as possible: 1-10 buildings per landlord with goal of later applying process to entire portfolio Michael Brooks, Ph.D., MBA, LLM Chief Executive Officer Board of Directors/Treasurer, Canada Green Building Council McGrath/reports/FC Additional Rent 2006 Don McLean SVP, Portfolio Management, Bentall Properties Chair, Sustainability Committee, NAIOP 200 2008 Board off Directors, 2007-2008 Canada Green Building Council REALpac p Sustainability Leadership z Strong leadership in Corporate Responsibility & Sustainability z Developing strategy to measurably green the industry z Extensive global research seeking industry best practices y Identified Investa and Bovis Lend Lease as world leaders z Seeking benchmarking data z Established REALpac Committees y Green Lease y Corporate Responsibility & Sustainability z National Standard Form of Green Lease z Endorsement of CaGBC Pilot Project z “20 by 2015” Research Report , leading to Industry Challenge McGrath/reports/FC Additional Rent 2006 CaGBC Engagement Strategy z Leverage brand power of LEED z Leverage high-level relationships z C Concise i marketing k ti materials t i l y Process, cost, participant responsibilities, outcomes z Live, individual presentations to prospective landlords z Pricing at cost z Follow-up calls z Bentall & REALpac provided ongoing advice McGrath/reports/FC Additional Rent 2006 Canadian Office Market Characteristics Consolidation of Ownership McGrath/reports/FC Additional Rent 2006 Successful Launch of Office Pilots McGrath/reports/FC Additional Rent 2006 Office Pilot Participation z Utility data, building profiles, normalization templates z Benchmarking & analysis of results z Landlord Working Groups y Technical y Business z 2-Day LEED Action Plan Workshops z Building Performance Audits to document high-performance buildings z High level of Landlord best practices and collaboration McGrath/reports/FC Additional Rent 2006 Results – A Call to Action Benchmarking Results McGrath/reports/FC Additional Rent 2006 LEED-EB:OM Registrations Picking Up MetroCentre, 225 King Street West Oxford Properties Certified Ce t ed LEED-EB S Silver e (USG (USGBC) C) Trinity Square, 483 Bay Street Northam Realty Advisors Certified Ce t ed LEED-EB Go Gold d (USG (USGBC) C) First Canadian Place, Toronto Canada’s Canada s Tallest Office Building 72 storeys, 2.6 Million sf Brookfield Properties Announced intention to register Royal Trust Tower, TD Centre Cadillac Fairview Registered LEED EB:OM McGrath/reports/FC Additional Rent 2006 145 King Street West Bentall Properties Registered LEED EB:OM Looking forward … McGrath/reports/FC Additional Rent 2006 Tenant Expectations p CSR & Sustainability Reporting Global 100 Most Sustainable Corporations in the World 5 Canadian Companies on 2009 List (Corporate Knights Inc.) McGrath/reports/FC Additional Rent 2006 Tenant Expectations p Example: HSBC – LEED Buildings Vancouver, BC, Canada LEED Gold North American HQ Burnaby, BC, Canada Targeting LEED Gold 2008: Mettawa, Illinois, 550,000 sf Targeting LEED Gold Latin America 1st LEED Gold Building in Latin America Torre Angel Building, Mexico City McGrath/reports/FC Additional Rent 2006 India LEED Gold Global Service Centre LEED-EB Silver GSC Hyderabad Tenant Expectations p Example: HSBC – Footprint Management z 2005: “World’s first carbon neutral bank” z 2008: New 4-year reduction targets for its energy and water use, waste and CO2 emissions by 2011 McGrath/reports/FC Additional Rent 2006 Landlord Footprint p Example p Oxford Properties Group McGrath/reports/FC Additional Rent 2006 Tenant Expectations p Example: World Wildlife Fund – WWF Canada Stated goal to reduce ecological footprint of premises. Renew versus relocate strategy. Ultimately led to renewal with greening of existing building with green lease provisions. McGrath/reports/FC Additional Rent 2006 Maximizing Green Success McGrath/reports/FC Additional Rent 2006 z Continuous improvement z Cultural change z Many aspects are beyond actual lease provisions We still have a long way to go …. McGrath/reports/FC Additional Rent 2006 Thank you McGrath/reports/FC Additional Rent 2006 Nancy y Searchfield,, LEED® AP Canadian Leader, Brokerage Sustainability McGrath/reports/FC Additional Rent 2006 z Over 24 years’ experience in commercial real estate, licensed real estate salesperson salesperson, with Colliers (Toronto (Toronto, Ont Ont., Canada) for 12 years. years z Specializes in green buildings & sustainability. Previously specialized in Tenant Representation since 1989. z First commercial real estate salesperson in Canada to receive LEED® AP (Accredited Professional) designation (2004) z Board of Directors, Canada Green Building Council (2006-2010), Vice Chair (2007-2008, 2009-2010) z Executive Seat on Advisory Board of World Green Building Council and also sits on Membership Committee (Member is a national GBC) z Key team member representing RBC/RBC Dexia in lease of 625,000 sf in new Class A A, 1 1.1 1 Million sf, sf 41-storey 41 storey green office tower under construction by Cadillac Fairview in Downtown Toronto, candidate for LEED® certfication (target gold) z Team member representing BMW Canada in lease of new 85,000 sf suburban b b green design/build d i /b ild head h d office, ffi candidate did t ffor LEED® certification [email protected] 416-777-2200 Founding Global Partner Nancy Searchfield, LEED® AP, CCIM Canadian Leader, Brokerage Sustainability Sales Representative, p , Brokerage g Colliers International One Queen Street East Suite 2200 Toronto, Ontario M5C 2Z2 Canada Vice Chair, Canada Green Building Council McGrath/reports/FC Additional Rent 2006
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