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NAIOP Calgary Chapter presents the 1st Annual Real Estate Excellence (REX) Awards gala

2017


Randy Remington Lifetime Achievement Award Recipient

H

aving spent over 40 years in Alberta’s development industry, there are few more deserving of the inaugural Lifetime Achievement Award than Randy Remington. His company, Remington Development Corporation (RDC), has designed and built over 150 projects in the last 23 years, from industrial and office spaces to design build and retail. It is also provides commercial leasing and sales opportunities to numerous clients. This success was built, like all of his developments, from the ground up. “In 1977, I started a company with a friend doing some small general construction jobs that led to a couple design build opportunities in Lethbridge,” Remington recalls. “Within two years, our business was growing quickly, and we opened up an office in Calgary. The rest, as they say, is history.” Started in 1994, RDC is today renowned for its abilities to pioneer new construction solutions. For example, in the 1990s, it deployed precast construction solutions (which Remington pioneered in the 1970s) to bring industrial sites to market more quickly than with conventional processes. It’s also a leader in transforming blighted land into thriving business parks and communities, having fully developed 30 brownfield sites in the past 20 years alone. RDC was also Alberta’s first private developer to design and construct a LEED Gold Certified building (Quarry Park West). The RDC team provides clients – who run the gamut from private family businesses and non-profits to publicly-traded Fortune 500 companies – with planning, architecture and design, construction and property management expertise. It continually outperforms standards achieved by others, establishing new benchmarks for success. The keys to that success? “I was taught by my dad that you can’t replace hard work and creativity,” Remington explains. “Couple this with a little bit of luck and you have a recipe for success.” He cau-

tions that the market can work for or against you, and admits it’s worked for him more often than against. “I’ve also been fortunate enough to hire extremely good people,” he says. “Very knowledgeable, confident people who are stars in what they do. We work as a team on our projects – everyone is a vital part of that team, and we are all driven and have the same vision for the future of our company and our developments.” The company’s values of commitment, integrity and stewardship have guided it since inception, providing the foundation for all of the company’s endeavours. “Most importantly, I would never have been able to survive and thrive without the support of my wife, Donna, who did more than her share to raise our family and allow me to focus on the growth of our business,” he says. A self-described perfectionist, Remington admits to being determined and somewhat stubborn. “But I always try to be fair,” he adds. “Calgary will always be my home,” he reflects. “We have a very talented group of people working in our industry here. In terms of a place to do commercial real estate development – we need to be better! At times our business can be extremely frustrating as there are many moving parts that all need to come together at the right time. We live in one of the best cities in North America and need to be more nimble and responsive to attract the best companies in the world. The development community together with the approving authority need to come together to be more competitive.” Proud of all he’s achieved thus far, Remington has no plans to slow down. “I am honored to be recognized by my peers for the work we have done to date,” he says, “but to be honest, I am not crazy about the name of the award as it infers that my career/life may be complete. Hopefully this is not the case, as I still have many things I want to accomplish.”

NAIOP Calgary Annual Real Estate Excellence (REX) Awards • 2


Congrats to winners of Calgary’s Inaugural REX Awards

We are proud to celebrate the best of the best in the Calgary’s commercial real estate industry About NAIOP NAIOP, the commercial real estate development association, is the leading organization for developers, owners and related professionals in, industrial and mixed-use real estate. On behalf of our members, NAIOP advances responsible commercial real estate development, advocates for effective public policy and offers quality professional development programs.

Get Involved: info@naiopcalgary.com

Thank You to our Sponsors Developing Leader of the Year Award

Premium Sponsor Lifetime Achievement Award

Media Partner


A Message from the President

T

he past few years have been difficult in the commercial real estate industry in Calgary to say the least. A significant portion of our downtown has hollowed and we faced immense pressure across the industry to innovate, adapt and get creative to succeed.

Despite the difficulty, there have been a lot of good-news stories. Our industrial and retail markets continue to thrive, our investment activity has regained its pace and the office buildings we are completing are world class. With this in mind, NAIOP Calgary is pleased to launch its inaugural Real Estate Excellence (REX) Awards. The REX Awards are designed to celebrate the best of the best in the commercial real estate industry and are a standing tradition in other NAIOP chapters such as Toronto and Vancouver. NAIOP is a commercial real estate industry association for developers, owners and real estate service providers that operate chapters in every major city in North America. NAIOP is built around three principles: a proactive voice in government affairs, education opportunities for current and future industry members, and a hub to provide networking amongst the industry. For an industry with such significant impact on the footprint of the city, it is important for our members and non-members alike to gather and award our deserving finalists in the categories of: industrial development of the year, industrial deal of the year, office development of the year, office deal of the year, mixeduse development of the year, and investment deal of the year. We will also be honouring a developing leader of the year (under 35) and presenting the lifetime achievement award in real estate. As this is our inaugural event, we owe a lot to the many hands that have helped make this event a reality. I would like to personally thank our supportive board of directors, our many volunteers, our generous sponsors and the folks at the Hudson event space, E=MC2 planning and of course Business in Calgary magazine for their partnership. Please join me in congratulating this year’s winners and stay tuned for exciting, upcoming NAIOP events. Peter Zorbas President, NAIOP Calgary

NAIOP Calgary Annual Real Estate Excellence (REX) Awards • 4


Great communities, award-winning properties, notable development

Inner city office and main f loor retail at Meredith Block

Remington Development Corporation has been a fixture in Alberta development for decades. From office, industrial and retail, to design build, residential and community development, Remington’s breadth is unparalleled. Integrity, commitment and a visionary perspective can be found in every project we undertake. For exceptional leasing, sales and residential opportunities, visit remingtoncorp.com

The Market at Quarry Park

South Campus – Design build corporate headquarters, over 800,000 square feet

Multi-tenant campus at Quarry Crossing – over 70 percent leased

300, 200 Quarry Park Boulevard S.E. Calgary, Alberta (403) 255-7003

Champagne - 177 estate condos along the Bow River


OFFICE LEASE OF THE YEAR Brookfield Place East Tower 225 - 6 Avenue SW

• Brookfield Property Partners • Brookfield Office Properties Management LP • Colliers International Brookfield Place sets a benchmark for architectural sophistication with an elegant exterior, generous public spaces and efficient floor plate. The Bank of Nova Scotia secured a lease for 130,000 square feet of office space and 11,200 square feet of retail space, requiring a redesign of the main floor and Plus 15 levels and an acceleration of certain turnover dates. This was the largest lease transaction in downtown Calgary for 2016.

University of Calgary Smart Technology Building 3636 Research Road NW

• Smart Technologies ULL • The Governors of the University of Calgary • Colliers International In 2016, the University of Calgary received government funding to redevelop an administration building, requiring UofC to temporarily relocate 600 employees. UofC engaged Colliers to source viable office options and create a strategy allowing UofC to gain control of its preferred option. The result was a sublease of 95,000 square feet of the SMART Technologies Building on favourable terms for the university.

Intact Place -

311 & 321 - 6 Avenue SW • QuadReal Property Group • Intact Insurance Company • Avison Young Creative leasing strategies were used to renew Intact Insurance Company, a major financial sector tenant occupying approximately one-third of building area, in an increasingly competitive market. As a result, the landlord significantly reduced vacancy risk, lengthened portfolio duration, and retained cash flow and tenant diversification in energy-dominated Calgary.

OFFICE DEVELOPMENT OF THE YEAR Calgary City Centre 215 - 2 Street SW

• Cadillac Fairview Corporation Calgary City Centre is a 36-storey, 853,000-square-foot office complex built to LEED Platinum. The tower boasts a state-of-the-art fitness facility and conference centre as amenities for its tenants, as well as pays particular attention to its pedestrian spaces with permanent displays of public art creating a stimulating and rich presence to the lobby and Plus 15 levels.

NAIOP Calgary Annual Real Estate Excellence (REX) Awards • 6


OFFICE DEVELOPMENT OF THE YEAR - Con’t Eau Claire Tower 600 - 3 Avenue SW

• Oxford Properties Group • MEG Energy Eau Claire Tower is Oxford’s newest “AA”, LEED-certified, 25-storey office development completed in Q1 2016. The tower is connected to Calgary’s Plus 15 network and in close proximity to retail, dining and recreational opportunities, including the Eau Claire YMCA, Prince’s Island Park and the Bow River pathway network.

Computer Modelling Group 3710 - 33 Street NW

• Remington Development Corporation • Computer Modelling Group • Colliers International • IBI Group The Computer Modelling Group’s new building in the University of Calgary’s Research Park is a stateof-the-art, LEED® Gold candidate, custom-built facility. The 89,221-square-foot, four-storey building is located directly adjacent to the Brentwood LRT station, the university, parks, green spaces, pathways and the full range of amenities at Brentwood Village.

INDUSTRIAL LEASE OF THE YEAR Galaxy Processing -

2626 Country Hills Boulevard NE • Colliers International • Albari Holdings c/o ONE Properties • Galaxay Processing Ltd. Colliers assisted Galaxy Processing in securing a long-term lease transaction, converting a traditional warehouse into a specialized food-processing facility. The expanded operation will employ more than 200 full-time positions once fully operational.

Old Smuckers Building 5805 - 51 Street SE

• PIRET • Hopewell Logistics Inc. • Cushman & Wakefield Ltd. In early 2016, Chris Saunders of Cushman & Wakefield represented Hopewell Logistics in a lease transaction completed in a southeast Calgary property owned and managed by PIRET. The transaction facilitated Hopewell’s growth in Calgary and absorbed a large bay distribution space during a period of significant oversupply in this segment of the market.

NAIOP Calgary Annual Real Estate Excellence (REX) Awards • 7


LOCAL EXPERTISE

INDUSTRIAL OPPORTUNITIES FROM

BARCLAY STREET REAL ESTATE SALE

MATTERS

FOR

OWNER | USER INVESTMENT OPPORTUNITY

2616–18th Street NE, Calgary • Situated in South Airways district. • Corner location with two access points. • 14,201 sq. ft. of office is leased on a long term basis. 31,322 sq. ft. vacant. • 70 parking stalls.

Casey Stuart, VICE PRESIDENT

Jon Mook, EXECUTIVE VICE PRESIDENT

Eric Brenner, ASSOCIATE

Erik Dobrovolsky, ASSOCIATE

cstuart@barclaystreet.com

jmook@barclaystreet.com

ebrenner@barclaystreet.com

edobrovolsky@barclaystreet.com

c: 403-828-8669

c: 403-616-5239

c: 403-714-4721

c: 403-613-7161

LEASE

FOR

INDUSTRIAL | OFFICE | SHOP | YARD

7745–66th Street SE, Calgary • Situated in Great Plains Industrial Park. • Existing building 15,784 sq. ft. | Expansion building 13,716 sq. ft. for a total of 29,500 sq. ft. • Three sets of drive-thru loading doors, overhead crane and large fenced yard.

Casey Stuart, VICE PRESIDENT

Jon Mook, EXECUTIVE VICE PRESIDENT

cstuart@barclaystreet.com

jmook@barclaystreet.com

c: 403-828-8669

c: 403-616-5239

DESIGN-BUILD LEASE

SOLD BY BARCLAY STREET OFFICE | MANUFACTURING FACILITY

10490–72nd Avenue SE, Calgary

10121 Barlow Trail NE, Calgary

• Barclay Street Real Estate helped SAIT acquire the land and facilitated their designbuild 30,000 sq. ft. training facility on 7.7 acres.

• 160,000 sq. ft. state of the art industrial manufacturing facility with ‘A’ class office on 38.02 acres situated North of the YYC Calgary International Airport.

Jon Mook, EXECUTIVE VICE PRESIDENT

Casey Stuart, VICE PRESIDENT

Jon Mook, EXECUTIVE VICE PRESIDENT

Casey Stuart, VICE PRESIDENT

jmook@barclaystreet.com

cstuart@barclaystreet.com

jmook@barclaystreet.com

cstuart@barclaystreet.com

c: 403-616-5239

c: 403-828-8669

c: 403-616-5239

c: 403-828-8669

COMMERCIAL REAL ESTATE

SOLUTIONS

CALGARY

EDMONTON

Leasing

OFFICE, RETAIL, INDUSTRIAL

WWW.BARCLAYSTREET.COM

Sales

OFFICE, RETAIL, INDUSTRIAL, MIXED USE, MULTI-FAMILY, LAND

Property Management


INDUSTRIAL LEASE OF THE YEAR - Con’t G.E. Shnier Expansion 4000 - 106 Avenue SE

• Triovest Realty Advisors • G.E. Shnier The G.E. Shnier expansion and extension required substantial negotiations to relocate an existing subtenant from Eastlake Portico to Foothills III on a head-lease basis, a termination between the sub-lease and head-lease tenant in Eastlake Portico, as well as a partial surrender with the head-lease tenant. A major vacancy was avoided at a time of excessive availability in the large bay market and the deal was structured to maximize the value of the assets.

INDUSTRIAL DEVELOPMENT OF THE YEAR Trueman Distribution Centre 6280 - 76 Avenue SE

• Trueman Distribution Ltd. • Barclay Street Real Estate Ltd. With 18 months left on its lease, Trueman Distribution made the decision to no longer lease. A 7.1-acre site in Great Plains Industrial Park was secured, allowing for construction of 86,944 square feet which included 20,000 square feet for future growth. Barclay Street quarterbacked the design, finalized a building spec and tendered the project. There was limited downtime for Trueman as each step was planned, ensuring a well-designed facility that met the company’s needs for today and tomorrow.

Glenmore Trail Corporate Centre 6027 - 79 Avenue SE

• Beedie Development Group • Colliers International Glenmore Trail Corporate Centre is an industrial condominium project in southeast Calgary. The development consists of 24 units over two phases, 199,439 square feet on 10.54 acres, and is the largest development of its kind in the greater Calgary area. Only six units remain for sale and range in size from 6,798 to 8,110 square feet, of which purchasers can combine to suit larger requirements, offering a unique opportunity to own institutional-quality construction for small/medium-sized businesses.

Icon Business Park 10 Smed Lane SE

• Hungerford Properties • Colliers International • Chandos Construction • Kasian Architecture Icon Business Park is a 759,000-square-foot warehouse and office building on 45 acres in southeast Calgary. Since 2013, Hungerford Properties has transformed one of the city’s largest buildings from a single-tenant facility into a state-of-the-art, class A, multi-tenanted business hub. The building’s strategic location takes advantage of Calgary’s growing reputation as a logistics hub for Western Canada and holds great appeal for manufacturing and logistics enterprises and suburban office tenants.

NAIOP Calgary Annual Real Estate Excellence (REX) Awards • 9


INVESTMENT DEAL OF THE YEAR High Plains Building -

290144 Township Road 261 • CBRE Limited • High Plains GP • Fiera Properties High Plains Building 1 is a newly-constructed large-bay industrial building located in the rapidly developing municipality of Balzac.

Centennial Place & Eau Claire Tower 520 - 3 Avenue SW & 600 - 3 Avenue SW

• CBRE Limited • Oxford • CPPIB • RBC The transaction was a 50-per cent interest in three class “AA” downtown office buildings totaling 1.9 million square feet. Eau Claire Tower is a newly-constructed 615,000-square-foot tower. Centennial Place East & West is a two-building complex comprising nearly 1.3 million square feet.

TransCanada Tower 450 - 1 Street SW

• CBRE Limited • HOOPP • H&R Reit TransCanada Tower is a 38-storey class ‘A’ office building located in the heart of Calgary’s Downtown Core.

RETAIL/MIXED-USE DEVELOPMENT OF THE YEAR Kensington -

301 - 10 Street NW • Bucci Developments • CBRE Limited • Casola Koppe Architects Kensington by Bucci Developments is a mixed-use development consisting of 77 concrete condominiums above 9,095 square feet of retail anchored by Regal Cat Café, Orangetheory Fitness, and Espresso Bar. Bucci secured 100 per cent pre-lease commitments and leading rents in challenging market conditions by designing an iconic building in a coveted neighbourhood.

LIDO by Battistella 1087 2 Avenue NW

• Battistella Developments As a public/private partnership, LIDO is an innovative mixed-use development in Hillhurst/Sunnyside. Taking its cues from the Kensington neighbourhood initiative, LIDO’s success is achieved by combining different urban elements including 34 CPA parking stalls, 66 residential parking stalls, seven commercial bays, 21 purpose-built rental/hotel apartments, and 60 residential condos. LIDO is a vertical community with a diverse mix of commercial tenants, hotel visitors, renters, first-time buyers, upsizers, downsizers and families. NAIOP Calgary Annual Real Estate Excellence (REX) Awards • 10

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