2018 CRE Blurb Hamilton

www.creBlurb.com

HAMILTON Ontario, Canada

Commercial Real Estate Report

BUSINESS IS

BOOMING

businesses are starting-up, relocating and expanding in Hamilton.

+H ISTORIC

+B USINESS

omentum +M

Pier 8 shoreline in Hamilton’s

A new business park is coming

From downtown to

WATERFRONT West Harbour transforming into a mixed-use community

PARKS

to Hamilton offering industrial lots & office space

City

employment lands, Hamilton is Open for Business

Ready for You in Red Hill One of Hamilton’s prime business parks just seconds away from multiple major highway systems and minutes from Canada’s fastest growing airport. With hundreds of acres of serviced land and some of the most recognizable brands in Canada, join the many who are rushing to Red Hill.

investinhamilton.ca

Hamilton’s Rapid Commercial Real Estate Growth

T

he greater Hamilton area continues to receive a lot of interest as a place to live and invest. The area’s position as a transportation hub for Southern Ontario, the plans for Light Rail Transit (LRT) for major Hamilton corridors, the prospect of all-day GO services between Hamilton and Toronto, and our location in relation to the federal government’s Innovation Supercluster Initiative for advanced manufacturing are just a few of the reasons our area is receiving so much attention.

The attention is well-deserved! The City’s Economic Development Department has, through targeted incentives, brought rejuvenation and redevelopment to otherwise stagnant parcels of land. Hamilton’s downtown is undergoing a major revitalization, which

is expected to be an additional catalyst for residential and commercial growth in the area.

Hamilton also enjoys a vibrant arts community and active cultural life. Historic areas such as Ottawa Street, Concession Street

and James Street North have experienced a resurgence in recent years. Communities such as Waterdown, Dundas, Ancaster, Stoney Creek and Westdale have retained their unique identities and draw residents attracted to the distinct ambience they offer.

Hamilton offers a stable real estate market, and home ownership itself has proved to be a wise investment. The area has communities of all sizes, which offer all kinds of housing types with prices that range from affordable to luxury.

With so much going on economically and culturally, Hamilton is indeed a place in which to live and invest.

Jack Loft 2018 RAHB President

Established in 1921, the REALTORS® Association of Hamilton-Burlington (RAHB) represents approximately 3,100 real estate brokers and sales representatives from Hamilton, Burlington and outlying areas. Members of the Association may use the REALTOR® trademark, which identifies them as real estate professionals who subscribe to a strict code of ethics.The Association operates the local Multiple Listing Service® (MLS®) System and provides ongoing professional education courses for its members. Advertisements of local MLS® property listings and information about the services provided by a REALTOR® can be found at REALTOR.ca. More information about RAHB is available at rahb.ca.

About the cover

Wise & Hammer’s new offices (left), Stryker Canada; Groundbreaking in Waterdown (top right) & 100 King St. W Tower in Downtown Hamilton.

Produced by

Perspective

1464 Cornwall Rd, Suite 5, Oakville, ON L6J 7W5 1-866-779-7712 info@creblurb.ca www.creblurb.ca Publisher, CeO Steve Montague ViCe-PresiDeNT Ed Martin Cre Blurb was produced indepen­dently of the City of Hamilton. Contents are copyrighted and may not be reproduced without the written consent of Perspective Marketing Inc. The publisher is not liable for any views expressed in the articles and opinions do not necessarily reflect those of the publisher or the City of Hamilton. @creblurb

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Hamilton’s Active Economic Growth–Business Parks, Employment Lands & Over 675 Acres of Shovel Ready Land A new private industrial park on an abandoned factory site in Hamilton’s North End offers 18 industrial lots and office space that would be an ideal healthcare hub, says developer Sergio Manchia.

The Hamilton Central Business Park at Victoria and Ferrie streets is the largest soil remediation project in Hamilton’s history (using the City of Hamilton’s ERASE brownfield remediation grants). It’s fully serviced and has an approved plan of subdivision.

“We are excited to introduce more employment in the lower city and to give life to something long abandoned. We hope to be a catalyst for others,” said Manchia, president and owner of Urbancore Developments, which is developing the property, along with property owners DCR Holdings.

“This new park is among many examples of private developers who are leading the way on bringing investment to Hamilton’s employment lands and business parks,” said Norm Schleehahn, manager of business development.

Almost 50 per cent of the park’s lots are sold, without any concerted marketing push, and the developers are turning down any noxious uses that would bring noise or odour to the neighbourhood, Manchia says.

“We found there is a need for lots in the one to three-acre range. There just isn’t much available for people who want to build shops or warehouses.”

Some buyers are combining lots together.

The property has ready access to Burlington Street, the QEW, the 403 and the Red Hill Valley Parkway leading to destinations in all directions. It’s also closely connected to the city’s downtown.

“We don’t have Toronto prices or even Burlington prices. We aren’t cheap but we are very competitive.”

The park is within blocks of Hamilton Health Sciences’ General Hospital, Canada’s

creblurb.com

$1 Billion

Groundbreaking Ceremony for Stryker Canada. Soon to be home to their new 120,000 Corporate Head Office in Waterdown, Ontario. busiest cardiac surgery hospital and one of the country’s top research hospitals at the David Braley Cardiac,Vascular and Stroke Research Institute. Even closer is the Ron Joyce Children’s Health Centre. Manchia says that synergy makes the business park’s anchor office development an ideal location for a healthcare incubator and research labs, says Manchia.

He envisions contractors, insurance companies and tech companies coming, too, with leasable office space in units ranging from 2,500 to 24,000 square feet.

The property was home to a 740,000-square-foot Studebaker car plant from 1948 to 1966 and then Otis elevator until 1987. Allen Candy operated in the facility until about 10 years ago and still owns it under DCR Holdings.

Most of that concrete and steel structure, built in 1907, was torn down. But a historic, three-storey brick and beam portion of about 30,000 square feet was preserved and will be the centrepiece of a new, 120,000-square-foot flex space office development, said Manchia.

Across Hamilton, the City owns a total of about 80 acres of developable employment land among almost 700 acres of “shovel ready” employment land available.

Hamilton is making road and other infrastructure improvements that are leading to more shovel-ready lands in areas of Hamilton where there is a lot of demand, says Schleehahn. Those areas are the Red Hill area of the east Mountain, the airport district, Waterdown and the industrial North End. “Developers are seeing the City spending money on infrastructure, along with the interest in the market in Hamilton, and see it as a good time to make their own investments.”

Stryker Canada’s $100-million investment for a new headquarters in the new 95-acre iConnect Business Park in Waterdown will be a catalyst for further development there, says Schleehahn. It broke ground in September.

And Movengo Corporation expects to go to market this spring with Nebo Trails, a 40-acre parcel of land in the Red Hill South Business Park on Hamilton’s east Mountain, along with a commercial property in Winona.

“We’ve had sales offers before shovels were in the ground in both locations,” said Aaron Collina, president of Movengo. He says Hamilton’s geographic and transportation advantages – including access to huge markets and provincial highways, the port, the airport – are obvious to potential investors.

The City of Hamilton topped the $1-billion mark in building permit value in 2017 for the sixth-straight year and for the seventh time in eight years. Building value was $1.36 billion across 8,621 permits last year. Almost 60 per cent of the total was residential activity, while the industrial-commercial-institution sector accounted for $540 million in value and 1,662 permits. Industrial activity soared 197 per cent, coming in at $122 million in 2017. Some notable new construction projects included:

Retirement home, Ancaster, $12.6 million Repair garages, Hamilton, $5 million Manufacturing plant, Ancaster, $2.8 million Manufacturing plant, Hamilton, $1.8 million New building, McMaster University, $90 million Offices, Flamborough, $3.3 million Secondary school, Hamilton, $27 million Commercial school, Ancaster, $3 million 237-unit apartment, Stoney Creek, $46 million Apartments, Hamilton, $26.7 million 196-unit apartment, Stoney Creek, $26 million 90-unit apartment, Hamilton, $25 million

investinhamilton.ca 5

• • • •

Prestige new building with QEW exposure Office and warehouse uses Fabulous lake views from the upper floors Ample parking

• • • • •

• • • •

237.26 acres with QEW frontage Portion of the property is zoned highway commercial Currently being used as a private airport 2 hangars onsite

• • • •

• • • • •

Investment opportunity 34,819 sq. ft. on 3.86 acres Anchored by Foodland (Sobey’s) and PharmaPlus 73% leased

• • • •

Attractive historic brick and beam building 3 floors with all new building systems Located in Hamilton Central Business Park Up to 36,000 sq. ft. available Office, lab and light manufacturing uses permitted Ample free parking 1 km to Pier 8 West Harbour Development Site 2 km to West Harbour GO station 10 minutes to Burlington

Design build industrial building for sale or lease Up to 53,000 sq. ft. $4,200,000 or $4.95 net 26’ clear on 3.25 acres Easy access to Hwy#403

• • • • • •

Inexpensive office space 1st floor - $12 gross 2nd floor - $14 gross 3,142, 6,285 or 6,791 sq. ft. units available Elevator access available Downtown location on a bus route

• • • • • • • • • • •

Retail and office spaces for lease Up to 4,349 sq. ft.

Anchor tenants include Rexall Drug Store and TD Canada Trust Pylon signage available On bus route High traffic count $14 net - Retail $13 Gross - office

• • • •

Affordable, new flex space Ideal design build opportunity Office, lab, health sciences related & light manufacturing uses permitted $7.50 net

KIMBERLEY PIPER*

CBRE LIMITED REAL ESTATE BROKERAGE

T 905 315 3694 joe.merrett@cbre.com

T 905 315 3693 kimberley.piper@cbre.com

Oakville, ON L6M 2W2

Senior Sales Associate

*Sales Representative

•

•

JOE MERRETT*

Associate Vice President

• •

1235 North Service Road, Suite 101

• • •

$875,000 Historic office building in trendy Downtown Hamilton Neighbourhood Beautiful historic features Ideal for profession owner/occupier Walk to downtown, City Hall, GO station and St. Joseph’s hospital Residential potential

Industrial/commercial land under power of sale 20.68 acres Easy access to QEW and Hwy#406 $5,687,000

Why Not Move Your Business to Hamilton?

– We Have the Space That You Need

T

wo exciting new developments in Hamilton highlight the transformation well underway in the Ambitious City, says CBRE Limited senior sales associate Kimberley Piper.

“There is no doubt Hamilton is more on the radar of the GTA. It used to be a market unto itself but now it’s seen as an extension to the GTA west. We see a lot of interest in Hamilton and it has land left to develop inventory, where much of the GTA does not,” said Kimberley, who along with Joe Merrett, is marketing the properties out of CBRE’s Toronto West office. The team covers Hamilton, Niagara and Brantford.

CBRE Limited is the Canadian operating division of CBRE Group, Inc., the world’s largest commercial real estate services and investment firm. It employs 1,885 people in 20 locations coast to coast in Canada.

Residential sales have driven the Hamilton real estate market for a long time, but there is now strong growth on the commercial side, too, says Piper.

“People came here to buy homes but they are realizing the commute to Toronto is not great. Their companies are figuring that if a lot of employees are living here, it’s worth a look.

Businesses want to go where the talent is.”

A contemporary three-storey commercial development by prominent builder Losani Homes at 1266 South Service Rd. in Stoney Creek is now ready for occupancy. It offers prime exposure along Hamilton’s QEW gateway, lake view and escarpment view suites and ground-floor units with a combination of office and warehouse space.

What makes this development special is that it was built on spec, says Piper, which until now, has been relatively rare in Hamilton.

“We are grateful to the Losanis who chose to step out and be bold. We are glad to see some developers who believe in the market.”

creblurb.com

Losani’s Pronto Homes on Demand program has been successful for its residential division, says public relations manager John Anthony Losani, so the builder applied the same principles to the construction of a commercial building.

“We have found there is power in a prospective tenant to be able to physically walk through the space before signing an agreement. We were also eager to continue to increase our exposure along the QEW. It is certainly not a common play but we have confidence and the resources to push forward.”

He says there is great demand for all its commercial properties along the QEW between Fruitland and Fifty roads, which see more than 104,000 cars travel by each day.

“The beauty of this property is that it attracts such a wide range of businesses across all sectors. Our previous commercial builds just west have attracted tenants as recognizable as First Ontario Credit Union and Comfree.

It is, however, as equally appealing to smaller scale businesses, such as landscaping and car detailing companies.”

Another key new commercial property is the Hamilton Central Business Park, an 18lot, 26-acre subdivision at 440 Victoria St. N. offering affordable flex space ideal for offices, labs, light manufacturers, or health science companies.

The cornerstone of the development is a 36,000-square-foot open concept, brick and beam space built in 1907 that features soaring ceilings, plenty of natural light and the restored original elevator mechanics and cars.

“It’s highly competitive but also unique,” said Piper. “There is a lot of character to it.

A lot of companies are looking for a historic feel.”

The property was home to carmaker Studebaker and elevator builder Otis and then to Allan Candy but sat vacant for about

10 years. After an extensive environmental remediation, and installation of a new road and utilities, the site is now building permit ready and poised to become a symbol of Hamilton’s transformation, says developer Sergio Manchia of Urbancore Developments.

The industrial subdivision, a collaboration between Urbancore and landowner DCR Holdings, offers lots of one to seven acres. Any uses involving noxious odours or noise will be rejected.

“We want to begin a resurgence of this area, so we are going to be very choosy about the uses here.”

The site is within blocks of Hamilton General Hospital, the David Braley Cardiac, Vascular and Stroke Research Institute, and the Ron Joyce Children’s Health Centre.

It also offers easy access to downtown and the waterfront, and to highways to Toronto, Niagara and Brantford.

About 40 to 50 per cent of the lots are sold.

“We are thrilled to be giving life to something long abandoned,” Manchia said. “A lot of eyes are watching this. We expect other landholders will follow. We will be a good example of what can be done.”

1266 South Service Rd.

440 Victoria Ave. N.

Losani Properties new 100,000 square foot industrial/commercial space in Stoney Creek.

7

Hamilton’s Class A Office space Almost Half Price Compared to Toronto

D

owntown Hamilton mainstay Real Properties is seeing historic low vacancy in its mall Jackson Square, and has attracted anchor tenants in its attached and nearby office towers.

The company has invested in renovating common areas and elevators in 100 King St. W and is converting the seventh storey of the next-door Robert Thompson building into a 4,800-square-foot loft-like space.

“We have spent money because we know good things are happening and we want to be ready to go,” said leasing manager Jocelyne Mainville. “We can design things into a traditional office space to give a unique, funky stamp.”

Mall tenants are investing in their own stores and evening and weekend traffic is steadily growing, says Mainville. The mall has a thriving Nations grocery store and renovated cinemas and a bustling farmers market next door. McMaster University moved its continuing education programs and some administrative staff into a 50,000-square-foot pavilion on the east side of the mall at 1 James St. N. that features 14-foot-high open spaces and soaring windows.

There’s great optimism thanks to a growing population and more jobs moving downtown, she said.

“Hamilton’s downtown really is a different place than it was just a few years ago. There is so much happening, that it’s sometimes difficult even just keeping up with it.”

Joining a growing list of new restaurants, cafes, boutique stores and residential developments is Regus. The global shared workspace provider just opened its first location in downtown Hamilton but is so enthusiastic about the city it is already scouting future sites.

8

Regus has taken an entire floor – 16,000 square feet – in a 16-storey twin tower office building at King and James streets in the heart of the city.

“I’m really excited about Hamilton. I’m a big fan of the city and a big fan of the business and start-up community there,” said Wayne Berger, executive vice-president of IWG Canada, Regus’s parent company.

“We want to be a driver of the continuing evolution in Hamilton. We really believe the next two decades will be remarkable in the city.”

He says Hamilton is revitalizing in an authentic way that he admires, pointing to the arrival of restaurants, cafes and gathering spaces.

“There is a really independent feel to the downtown neighbourhoods. It’s special because you don’t feel that in every city.”

Hamilton is a great place to embrace risk and pursue a passion or dream, says Berger, and to join the estimated 6 million members of the “contingent workforce” in Canada.

“When people can take risks without mortgaging their grandkids’ future, you will see great experimentation.”

Class-A office space rents for an average of $27.17 per square foot in Hamilton, almost exactly half of the average cost in Toronto.

Hamilton’s affordability compared to the GTA, combined with its urban culture and vibrancy, and its deep innovation ecosystem is attracting start-ups, entrepreneurs, and established companies to its downtown, says Judy Lam, manager of the urban renewal section of the City of Hamilton’s economic development department. The downtown is particularly attractive to creative companies, including animation powerhouse Pipeline Studios, health and life sciences firms, and a growing roster of fintech companies, she says.

Office space at the Empire Times – attractive and affordable brick and beam design in Downtown Hamilton “Hamilton offers a range of great working space options, everything from brick and beam to contemporary office space to co-working choices. We have a highly diversified economy in Hamilton and that is matched by our office inventory.”

There are also a broad range of incentives, from façade loans to leasehold improvement loans, offered by the City to bolster investment, said Lam. “The ongoing growth of employment in our city core is the result of, and builds upon, all the strategic planning and investments contained in our Economic Development Action Plan,” said Glen Norton, director of economic development for the City of Hamilton.

“We are thrilled about and proud of all the well-paying, skilled jobs being created downtown and to see the concentration of innovation and investment being realized in so many sectors.”

Hamilton Health Sciences has become a major player in Hamilton’s downtown, moving more than 300 administrative staff to several floors in 100 King St. W. and partnering with IBM to open a healthcare innovation hub in 7,000 square feet of open concept space at 1 King St. W. Hamilton is also leading the way on adaptive reuse projects of heritage architecture.

The Alley is the sixth such project for Hamilton’s Core Urban. It ties together three buildings – two on James Street North and

creblurb.com

Empire Times in Downtown Hamilton – busy adaptive reuse space in the heart of the core one facing King Street East. The name comes from an alley that once separated the two James Street North brick buildings. Core Urban closed in that alley and added two floors to the southern building.

Together, they offer 45,000 square feet of space with units ranging from 2,000 to 5,700 square feet. It’s brick and beam construction, with high ceilings and heritage flooring, says Steve Kulakowsky, a partner in Core Urban.

“Tech companies want this style of space but we’re also seeing finance companies or sustainable energy companies. This kind of contemporary heritage space is necessary to attract the talent some companies need.”

Four of eight upper units are available and the three ground-floor commercial units are leased to three restaurant operators.

creblurb.com

Some upper floors hadn’t been used in many decades. In fact, one of the buildings was remodelled in the 1980s when a HVAC unit was plunked in the middle of the third floor.

“They thought they would never use it again. That’s the great success of James Street, the upper floors are being used again.”

Core Urban’s two large adaptive reuse projects just around the corner from The Alley on King William Street, heritage office units in The Empire Times and upscale residential rentals at Templar Flats, are adding to Hamilton’s downtown amenities.

Empire Times tenant Huxton Black, a wealth management company, was the first fintech company to arrive in Hamilton, said chief investment officer Gavin McCrodan.

“We chose Hamilton for our headquarters because of the deep roots established over decades by two of the McMaster alumni founding partners. Although many companies in the Canadian fintech industry choose Toronto for their home base, we’re excited to be offering services here in a fashion that’s never been done before.”

He said companies are always looking for efficiency gains, making Hamilton “perfectly positioned to be a key consideration for corporate headquarters. The economic climate, cost of living and quality of the talent pool coming from Mohawk and McMaster are all key considerations for business owners. The sentiment for Hamilton has been strengthening for many years now, with no end in sight.”

Fellow Empire Times tenants CASHiQ, which has developed a secure and simple method to optimize yields on cash holdings for high net-worth people, recently located its development office in Hamilton thanks to access to top developers, better availability of office space and a growing fintech cluster in the city, said Don Martone, president and COO. Graduates, particularly from McMaster and Mohawk, “prefer Hamilton’s unique ‘techy’ culture, old converted office buildings, outdoor cafes and bars. It’s similar to Queen Street West in Toronto at a more affordable price.”

The Hamilton Health Sciences Innovation Exchange initiative, within the IBM Innovation Space in downtown Hamilton, gives entrepreneurs, researchers, academics, and healthcare practitioners access to an array of IBM Watson cognitive and analytics software, expertise in cloud computing and highperformance computing infrastructure, and a network of global collaborators.

It’s all designed to accelerate the development and commercialization of new healthcare innovations, building on Hamilton’s existing deep healthcare ecosystem.

HHS, with its cadre of more than 1,500 research staff and 15,000 healthcare employees across six facilities, provides practical industry expertise and a “real-world” test environment for innovation, says Gordon Alexander, healthcare industry technical leader with IBM. The Hamilton hub – located in 7,000 square feet of open concept space at 1 King St. W – is the latest IBM Innovation Space in Canada, following locations in Toronto, Calgary and Markham. The Hamilton model is unique in that it focuses specifically on healthcare innovation.

“HHS is one of Canada’s top two research hospitals and is currently conducting research in over 1,500 centres across 86 countries worldwide. HHS attracts more private sector investment in health research than any

other Canadian hospital. Last year, those investments totaled over $300 million. The City of Hamilton is also among the top cities in Canada for health research innovation,” said Alexander.

The Innovation Exchange’s location in downtown Hamilton allows easy access to HHS hospitals, and for purposeful collisions and interactions among innovators, says Jim Magahey, IBM’s healthcare industry business lead.

“It also meant that we had great access to the excellent academic community supporting HHS as a teaching hospital, allowing us to engage and meet with healthcare professionals at McMaster University, Mohawk College and other supporting healthcare practitioners and incubators such as St. Joseph’s and McMaster Innovation Park (MIP).”

The core also offers plenty of retail, restaurant and transit amenities within a short walk.

Hamilton offers attractive market rates and terms for office space and the city’s business community has been very welcoming, says Alexander.

“We’ve had a front-row seat to the revitalization going on downtown,” he said.

“We have enjoyed the renaissance taking place in and around downtown Hamilton, leveraging the dining and the various community events that are available to our employees and collaborators.”

http://innovationexchange.ca/ 9

HAMILTON | COMMERCIAL REAL ESTATE OFFICE / COMMERCIAL O 1100 SOUTH SERVICE ROAD STONEY CREEK 2,245 SF FOR LEASE

1343 SANDHILL DRIVE ANCASTER 4,300 SF

1349 SANDHILL DRIVE ANCASTER 800 & 2,600 SF

FOR LEASE

FOR LEASE

1425 OSPREY DRIVE ANCASTER 5,620 SF

1295 CORMORANT ROAD ANCASTER 6,400, 12,800 OR 15,200 SF

FOR LEASE

FOR SALE/LEASE

42 KING STREET EAST STONEY CREEK 2,138 SF FOR SALE/LEASE

TEAM PRODUCTION (PAST YEAR)

100

1,543,392 SQUARE FEET

TRANSACTIONS

260 MILLION TRANSACTION VALUE

WWW.TEAMMF.CA SERVICES INCLUDE > Brokerage & Agency for both Seller/Landlord & Buyer/Tenant Representation > Project Management > Taxation

> > > > >

Valuation & Advisory Services Property Management Corporate Solutions Investment Services Lease Audits

* Sales Representative ** Broker This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2018. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls Inc., Brokerage

HAMILTON | COMMERCIAL REAL ESTATE INDUSTRIAL I 58 BIGWIN ROAD HAMILTON (MOUNTAIN) 14,353 SF FOR LEASE

590 SOUTH SERVICE ROAD STONEY CREEK 21,000 SF FOR LEASE

14 GARDEN AVENUE STONEY CREEK 8,700 SF

1632 BURLINGTON STREET HAMILTON 35,155 SF

FOR LEASE

245 LOTTRIDGE STREET HAMILTON 35,000 SF

LEASED

SOLD

100 CLAPPISON AVENUE WATERDOWN 120,000 SF LEASED

ICI I LAND 404 FRUITLAND ROAD STONEY CREEK 13.096 ACRES FOR SALE

649-657 ARVIN AVENUE STONEY CREEK 1.961 ACRES FOR SALE

HWY 5 & HWY 6 WATERDOWN 2 TO 150 ACRES

350 ARGYLE STREET NORTH CALEDONIA 96 ACRES

BUILT-TO-SUIT FOR LEASE

1492 WILSON STREET ANCASTER 6.04 ACRES

FOR SALE

SOLD

75 QUEENSTON ROAD STONEY CREEK 2 ACRES SOLD

COLLIERS SPECIALISTS IN OAKVILLE-BURLINGTON-HAMILTON

DOUG MURRAY*, SIOR Vice President +1 289 266 1010 doug.murray@colliers.com

BRYAN FALDOWSKI*, CNE Vice President +1 289 266 1009 bryan.faldowski@colliers.com

SIMON HENDERSON Sales Representative +1 289 266 1004 simon.henderson@colliers.com

JUSTIN VENANCIO Sales Representative +1 289 266 1006 justin.venancio@colliers.com

GARRET HILL Sales Representative +1 289 266 1007 garret.hill@colliers.com

JENNIFER BYERS Client Project Coordinator +1 289 266 1014 jennifer.byers@colliers.com

COLLIERS INTERNATIONAL 1122 International Blvd., Suite 102 Burlington, ON L7L 6Z8 www.collierscanada.com

Robert Thomson Building 10 King Street West, 1 Hamilton, Ontario

Plaza Suite 608

9,144 SF Great space located in the very center of the complex. Many reusable improvements

Suite 410

9,047 SF Great open, column free office space; existing server room with raised floor

Parking Allotment: U nderground parking for up to 1,300 vehicles, EV charging stations and secured bike room

Suite 700

4,833 SF New base building shell

Suite 720

6,329 SF Finished call centre office space, north facing, beautiful views

120 King Street West

Available Space

20 King Street West, 1 Hamilton, Ontario

Suite 230

11,728 SF

Fully built out column free office space, large open space

Suite 530

18,053 SF

Available March 1, 2017

Suite 600

18,302 SF

Nicely finished office space

Suite 630

2,228 SF

New base building shell

Suite 750

23,606 SF

Fully built out office space

Suite 770

1,013 SF

Nicely finished office space with boardroom on the atrium, kitchenette

Landlord : Second Real Properties Limited Floor Plate Size: 20,500 SF

Landlord : Fourth Real Properties Limited Floor Plate Size: 38,400 – 40,400 SF nderground parking for up Parking Allotment: U to 1,300 vehicles, EV charging stations and secured bike room

Real. urban. office space.

Available Space

Suite 950

3,373 SF

Great bridge exposure, nicely configured offices with beautiful views of the Hamilton Harbour

Suite 1090

3,043 SF

Great elevator exposure, beautiful views of the Hamilton escarpment, new base building shell

Suite 1010

8,770 SF

Great elevator exposure, beautiful views of the Hamilton escarpment

Suite 1120

32,541 SF

Fully built out, column free office space divisible to approximately 15,000 SF

Suite 1030

1,130 SF

Fully built out office space, atrium exposure

Suite 1065

1,693 SF

Beautiful views of the Hamilton Harbour, nice office layout

100 King Street West

Available Space

100 King Street West, Hamilton, Ontario

Suite 200

16,431 SF

Open floor, new base building condition

Suite 850

4,068 SF

New base building shell

Suite 1710

6,334 SF

Open floor, new base building condition

Suite 300

16,402 SF

Open floor, new base building condition

Suite 910

3,195 SF

Suite 1800

16,988 SF

Open floor, new base building condition

Suite 410

6,090 SF

New base building shell

Great elevator exposure, south facing office suite, nice leasehold improvements

New base building shell

5,526 SF

Open floor, new base building condition

Suite 600

10,953 SF

Fully built out office space

New base building shell, can be combined with 1440

16,986 SF

3,278 SF

Suite 1410

Suite 1900

Suite 510

Great elevator visibility, many useable leasehold improvements

4,118 SF

New base building shell, can be combined with 1410

16,993 SF

3,811 SF

Suite 1440

Suite 2000

Suite 670

Open floor, new base building condition

Suite 1600

11,412 SF

New base building condition

Suite 2400

16,980 SF

Open floor, new base building condition, unsurpassed panoramic views of Hamilton

Landlord : First Real Properties Limited Floor Plate Size: 16,400 –17,000 SF, column-free Parking Allotment: U nderground parking for up to 1,300 vehicles, EV charging stations and secured bike room

Class A office space in Downtown Hamilton

Real Properties 905-522-3501 Leasing inquires please email Jocelyne Mainville jocelyne.mainville@yalecanada.com

Thinking of Investing in Commercial Real Estate? Think Hamilton

W

ilson-Blanchard believes in downtown Hamilton.

The developer and property management company has been investing in the city’s core for more than 20 years, growing a portfolio of office buildings that range in size from 18,000 to 195,000 square feet.

“Our offerings range from prestigious Class A space suitable for multi-national tenants, smaller entry-level spaces for startups, and heritage buildings for tenants looking to set themselves apart,” says Wilson-Blanchard senior property manager, Robert Miles. “By leveraging our broad array of buildings, we are able to accommodate a multitude of needs that tenants typically face.”

The company manages more than 23 million square feet of commercial, industrial and residential space across Ontario. “We have a vested interest in our tenants’ success,” says Miles. “If they have a specific vision for a space we will work with them to help bring that vision to life.”

In downtown Hamilton, Wilson-Blanchard recently welcomed two diverse companies into space that was just the right fit.

Regus, the world’s largest workspace provider with 106 locations across Canada alone, opened its first shared workspace and co-working centre in Hamilton this February.

“We are great believers in the type of business and startup community that’s been developed in Hamilton,” says Wayne Berger, executive vice-president of Regus Canada. “We’ve been looking for the right opportunity, at the right location, in the right neighbourhood.”

The fifth floor of 21 King St. W offered all three.

Steps from Jackson Square and a quick walk to the Hamilton GO Centre, the 16-story office tower is located in the

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heart of downtown, offering easy access to shopping, local cafes, restaurants, and park space.

The new Hamilton workspace offers private and shared offices, a large collaborative co-working space and multiple team-meeting rooms. It will also host networking events and educational workshops for the local business community.

“Wilson-Blanchard were a great partner.

They are not just interested in managing a property, but also in building up the vibrancy of Hamilton,” says Berger. “They played a key role in helping ensure that we were able to design and build the right space to provide more access to co-working in the city.”

David Premi of DPAI Architecture Inc also partnered with Wilson-Blanchard to find and create an office environment that supports his company culture.

His growing architectural firm moved into 25 Main St. W last November.

The 22-storey office tower was designed by notable Canadian architect Stan Rosco – the man behind other city landmarks including Hamilton’s City Hall – and has a relatively small floor-plate of around 6,700 square feet.

“We were able to take an entire floor here, which gives us a real sense of ownership,” Premi says.

Locating in a traditional corporate tower gave DPAI Architecture Inc. the opportunity to strengthen its reputation as a firm dedicated to urban renewal and creative design, says Premi. “We don’t have a corporate culture at all, so what we’ve done is move into what would be considered unexpected space and customized that space to suit our personality and company values.”

That means removing compartmentalized offices to create a completely open floorplan and taking down the dropped ceilings

to expose the concrete slab, which gives the space a contemporary, industrial look.

Today, everyone who enters the DPAI office enjoys 360-degree views over Lake Ontario, the Escarpment, and downtown Hamilton. “We are able to look out the window at the city that we are helping to build,” comments Premi.

“Wilson-Blanchard was very accommodating,” he adds. “We found great synergies working together.”

Hamilton offers commercial tenants like DPAI Architecture Inc. and Regus several benefits over the GTA, says Miles.

Situated in the economic heart of Southwestern Ontario, it provides easy access to downtown Toronto, KitchenerWaterloo, and the US border, and offers a relatively low cost of living as well as a great quality of life.

Regus – world’s largest workspace provider – has a new home in Downtown Hamilton In addition, market rents for comparable office space is typically about a third of that of the GTA. “Hamilton is uniquely poised to house commercial tenants,” Miles says. “It is an excellent choice.”

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The Hamilton Downtown Secondary Plan – Putting People First Benjamin Zarate

Data & Information Analyst The Doyle Team

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he Downtown Secondary Plan (or DTSP), “Putting People First: The New Land Use Plan for Downtown Hamilton,” was the first formal plan for Hamilton’s Downtown core and was approved in 2001. The Plan area is bounded

by Cannon Street to the north,Victoria Avenue to the east, Hunter Street to the south and Queen Street to the west.

Since 2011, the Plan (or Review, or DTSP) has gone through numerous revisions large and small. While other changes have been made to the Plan from the October 2017 version to this final draft, those laid out below could be considered the most significant. Most of these changes were a result of community input concerning three main areas: housing, views, and building height.

Rental Housing With the lack of new rental housing being built, Hamilton’s rental inventory has dropped to record lows, with the Hamilton rental vacancy rate sitting at 2.7% as October 2017, down from 4.5% in October 2016.

This number is forecasted to drop further as we get deeper into 2018. As such, ensuring the construction of rental units is incentivized and that existing inventory is maintained are significant considerations in this new version of the Plan. One strategy introduced in this new version of the Plan is that any demolition or redevelopment of a property with existing rentals must include the replacement of those units.

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In addition, the property owner or developer must ensure “an acceptable tenant relocation and assistance plan addressing the right to return to occupy the replacement housing at similar rents, the provision of alternative accommodation at similar rents, and other assistance to lessen the hardship, is provided.”1 These changes serve to minimize the incentive developers may have to take existing rental units and convert them to condominiums.

Section 37 Bonusing Building on this notion of incentivization, the City recently introduced the notion of Section 37 bonusing into the Downtown Secondary Plan. A development may be eligible for a proposed height increase provided it: 1. Shall not be taller than the escarpment 2. Is consistent with the DTSP 3. Is compatible with the surrounding area 4. Provides community benefits consistent with the DTSP There are therefore a few ways a property owner may add to the allowable building height of their property. As mentioned in the previous section, the City has recognized the lack of rental units and affordable housing within Hamilton. This is important to have entrenched in the Plan and the city’s zoning bylaw to ensure developers and property owners employ these incentives.

Views and Vistas A major consideration in this final draft of the Plan is the inclusion of a number of policy items involving the Niagara Escarpment. The Downtown Secondary Plan

posits that views to this natural Hamilton landmark should be preserved and protected.

As such, a Visual Impact Assessment may be required for development located on streets identified as View Corridors to the Niagara Escarpment. As part of a Visual Impact Assessment, a builder/developer will have to provide the following: 1. Visualizations that demonstrate the impact a development may have on existing views of the escarpment with specific imagery devoted to before and after development xisting and proposed streetscape 2. E treatment to enhance views 3. P roposed design refinements to demonstrate there is no loss of views from the public realm.

With the emphasis added to the preservation of views and vistas of the Niagara Escarpment, any new development will therefore be required to have its viability demonstrated in this new category, in addition to other studies traditionally required for new downtown buildings, such as shadow and wind studies, environmental assessments, or site plan approvals.

Buildable Height Much has already been discussed about the changes made to maximum building height as a result of the Downtown Secondary Plan and its subsequent revisions. Blocks of the city’s core witnessed significant alterations to their maximum allowable building heights, with many properties’ having their max heights go from 22m (or 6-7 storeys, depending on use) to 30 storeys seemingly overnight. This resulted in significant community input, forcing the City to

re-evaluate much of the maximum building height portion of the Plan. More importantly, these discussions with community leaders and concerned citizens also forced the City to clarify that these allowable building heights are maximums - and that therefore a proposed 30 storey development would have to demonstrate significant community benefit before being granted permission to move forward.

Zoning As part of the original Downtown Secondary Plan, the City of Hamilton introduced numerous new “downtown zones” via their then-new zoning bylaw 05-200, put into effect in 2005. These downtown zones created several new zoning designations design to provide clarity on new and existing permitted uses across the downtown core, as well as create a standard for maximum build height across the downtown core.

Each of these downtown zones applies to a different area across the DTSP and creates an underlying classification through which the zone’s permitted uses are derived. For instance, Downtown Residential (D5) has traditionally allowed for primarily lowdensity residential-related uses, such as Single Detached Dwelling or Duplex Dwelling, while the Downtown Central Business District (D1) provides for a wide variety of permitted uses, including multi-residential and commercial-oriented uses.

For specific information on each downtown zone and its applicable permitted uses and regulations, please visit the City’s of Hamilton’s website “Zoning By-law No. 05-200” section.

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City of Hamilton, Downtown Secondary Plan

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The Future of the Downtown Secondary Plan

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n its current form, the Downtown Secondary Plan is mostly final. The Plan will be going to Hamilton City Council’s Planning Committee on April 17 2018. Shortly thereafter (pending any adjustments), the Plan will be presented to City Council. Upon acceptance, the Plan will take some time to come into law, but unless there are any substantial revisions, what has been discussed in this article will be enacted Summer or Q3 2018.

We at the Doyle Team have been studying the Downtown Secondary Plan Review diligently for the last several months. As

Hamilton’s top team for commercial real estate, we understand the importance of the Plan and its Review. When the Plan goes to Hamilton City Council Planning Committee on April 17, you’ll be sure the Doyle Team will be in attendance.

If you are curious as to how the Downtown Secondary Plan affects your property and what opportunities the Plan may create for you, or if exclusive opportunities, relevant market insight, and a persistent team of professionals are important to you, contact the the Doyle Team,Your Real Estate Professionals today!

THE DOYLE TEAM YOUR REAL ESTATE PROFESSIONALS

C OMM ERCIAL | DEVELOP MENT

| RESIDENTIAL

info@thedoyleteam.ca | 905 308 8333 | thedoyleteam.ca creblurb.com

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McCallum Sather brings Westinghouse Headquarters Back to Life

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t’s a magnificent brick and stone building from a time when corporate headquarters were symbols of pride and confidence.

But the former main office of Westinghouse Canada sat vacant for more than 30 years.

Now the team behind Westinghouse Headquarters is bringing the building in Hamilton’s industrial northeast back to life as unique office space.

“Researching the site showed us the huge significance of that building to Canada and that really made this project special,” said architect Drew Hauser, director at McCallum Sather Architects.

“This is a great and important investment and shows Hamilton can be a leader in sustainable adaptive reuse.”

The first five floors of the building, each 10,000 square feet, were finished in 1917, with a two-floor addition coming in 1928.

In assessing the building and removing flooring and interior walls added over the years, the development team found a full theatre, beautiful glass and marble mosaic floors, gorgeous hardwood, ornate pillars, even stunning wrought iron and wood railings on the fire stairs.

“There were beautiful details that were covered up but left intact,” said Hauser.

The development team puts a premium on bringing the building back to its glory while also bringing into the modern age, says Meir Dick, a representative of the investment team.

More than 350 new eight-floor tall windows on the upper floors have been installed and unlike many office buildings, they are operational. The beautiful, 11-foot arched windows on the ground floor are being restored.

The building will include a high-efficiency HVAC system, two high-speed elevators, state-of-the-art fibre to each unit, a new roof, solar panels and electric vehicle charging stations. It will also feature destination retail and culinary space on the ground floor, which is reminiscent of a hotel lobby, and event space on the top floor.

McCallum Sather is deeply invested in the project, acting as architects, mechanical engineers, interior designers and heritage consultants. But the firm and its 45 employees will also be tenants, taking up residence on the building’s second floor that once was the home to the office of the company’s president and the executive boardroom.

Westinghouse Headquarters, which is just north of Barton Street, will connect with

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its Gibson neighbourhood, said Dick, by focusing on bringing vibrancy to an adjacent park, working with the local BIA and listening to the community.

The scope of the project was overwhelming until the group went out to the community, seeking financing and leasing commitments, said Dick.

“We’ve seen instant support. People are unbelievably attached to this building. It seems to be a magnetic force. It turned a daunting task into something energizing.”

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Look here for traditional contemporary office space

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ragon Properties has been steadily adding to its Hamilton portfolio and plans to make big investments in the near future.

Several purchases over the last year means the company now owns almost the entire block of the north side of King Street between Hughson to James streets. Its signature property is the 125-year-old Right House building at 35 King St. E., which it has owned for more than 20 years.

Aragon, which also owns property in Toronto,Victoria,Vancouver and Los Angeles, invested about $400,000 to renovate the 14,000-square-foot third floor to create an open concept brick and beam space.

“I think it’s well known that there is a lot of optimism in Hamilton and in the last 12 to 18 months it’s really taken off,” said director Mike Lowe. “We are really high on Hamilton.”

He points to present and future residential developments, the redevelopment of Gore

Park and the growing success of downtown mall Jackson Square as highlights of the city’s revitalizing core.

“Our plan is to redevelop most of the block. We are investigating that now because we like what’s happening.”

Blair Blanchard Stapleton Real Estate Brokerage is also investing in Hamilton, pumping millions into upgrades of the mechanical infrastructure in all its Hamilton buildings in anticipation of impending strong office demand, said David Blanchard, a partner in the property management and development firm.

“There is definitely a momentum in the city,” he said. “The residential has come but a lot of people have to commute to their jobs.” But a growing number of companies are following their employees to Hamilton, where office rents are cheaper and staff can get out of their cars, he said.

The Right House Total availability: 59,000 square feet, including the entire 14,205-square-foot third floor, featuring brick and beam construction, open floor plans, ample natural light and ceiling heights between 17 to 22 feet.

45,000 square feet of new space now available on trendy James Street North “The movement out of the GTA is happening because there is realization these are good locations in good buildings.”

Hamilton’s building inventory can satisfy those looking for traditional contemporary office space and those looking for something more custom, said Blanchard.

Architect David Premi took the whole 18th floor in 25 Main St. W. for an open concept “retro warehouse look,” said Blanchard.

100 King St. W. Building details: 50,000 square feet on each of 24 floors is column-free, thanks to the structure’s steel-frame construction.

It also offers 360-degree views of the city thanks to floor to ceiling windows.

The Alley Availability: 45,000 square feet of space with units ranging from 2,000 to 5,700 square feet. It’s brick and beam construction, with high ceilings and heritage flooring.

LOOK AT EVERYTHING HAMILTON HAS TO OFFER

T

hinking about making a move in business? Your first call should be to the City of Hamilton’s Economic Development Division.

The City of Hamilton is made up of fifteen wards all having multi-use commercial real estate space. With a great workforce and access to an amazing goods movement network, including the 400 series of highways, rail, air, and an international seaport.

The Economic Development Division has seen tremendous growth within the ambitious city located near Toronto and The U.S. Border. Business expansion services include: Site-selection assistance, Industrial land development, Facilitation City of Hamilton services, Foreign Direct

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Investment opportunities, Information and research, Working with other levels of government/government programs, Small business registration/development, Marketing and Public Relations as well as Immigrant entrepreneurship.

You can reach the staff at the City of Hamilton’s Economic Development Division by calling (905)546-4222 or Toll-free: 1-800-868-1329.

Email: economicdevelopment@hamilton.ca You can also stop in during regular business hours or mail the Hamilton Economic Development Office at 71 Main Street West, 7th Floor, Hamilton, Ontario L8P 4Y5 Canada. For more information visit investinhamilton.ca

Ward 1 – Councillor Aidan Johnson Ward 2 – Councillor Jason Farr Ward 3 – Councillor Matthew Green Ward 4 – Councillor Sam Merulla Ward 5 – Councillor Chad Collins

Ward 6 – Councillor Tom Jackson Ward 7 – Councillor Donna Skelly Ward 8 – Councillor Terry Whitehead Ward 9 – Councillor Doug Conley Ward 10 – Councillor Maria Pearson

Ward 11 – Councillor Brenda Johnson Ward 12 – Councillor Lloyd Ferguson Ward 13 – Councillor Arlene VanderBeek Ward 14 – Councillor Robert Pasuta Ward 15 – Councillor Judi Partridge

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Historic Waterfront shaping Hamilton’s Future Growth

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he City of Hamilton is on the cusp of realizing a decades-long vision to transform the Piers 5 to 8 shoreline in Hamilton’s West Harbour into a mixed-use community.

The 30-acre former shipping pier is already home to an outdoor skating rink, amphitheatre, a café and restaurant. As the last stretch of urban waterfront property from Oshawa to the Niagara Region that is undeveloped, Hamilton has an unrivaled opportunity to draw private investment.

The City’s vision for Pier 8 is for up to 1,500 residential units in mid-rise buildings of three to eight storeys with ground-floor retail, commercial, and institutional uses.

Hamilton’s waterfront is an important part of the city’s history and a critical piece of its future. While the east side of the harbour is a bustling economic powerhouse, the West Harbour has become a destination for recreation and economic development and a place for people to connect with the beauty of Hamilton Harbour, thanks to decades of planning and strategic decision-making.

“From our roots in industrial waterfront activity to present day, the waterfront has played a significant role in shaping our city,” said Hamilton Mayor Fred Eisenberger.

“Over the course of the next several years we will see hundreds of millions of dollars in new residential, commercial and recreational investments aimed at strengthening the waterfront experience for our community and visitors alike.”

Four development teams have answered a request for proposals for the Pier 8 project and city staff expect to announce its choice in June.

“This process has been carefully designed to balance visionary aspirations with financial benefits for Hamilton taxpayers.

We’re eagerly anticipating a range of unique

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The City of Hamilton is creating a promenade park on Pier 8 where visitors will enjoy access to the water’s edge.The promenade park, approximately 30 metres wide along the north and east edges of Pier 8, will be a vibrant space for a variety of activities and waterfront amenities. and creative city-building interpretations for Hamilton’s waterfront from this group of experienced development teams,” said Chris Phillips, senior advisor for the West Harbour project.

He said each of the teams has a proven track record in executing major urban revitalization projects.

“We look forward to seeing their interpretations of the City’s vision to transform Pier 8 into a 21st-century model of excellence in city-building.”

The proponents must provide detailed development concept and implementation plans that display urban innovation, while also making financial bids for the purchase of the lands.

Hamilton’s West Harbour rests on the James Street North corridor, in the midst of a beautiful historic neighbourhood. It is only

a few blocks from downtown and the West Harbour GO station.

The City owns more than 100 acres of land from Bayfront Park, a vibrant urban park opened in 1993, to Pier 8. More than 80 per cent will remain publicly owned.

The City has committed more than $80 million for waterfront infrastructure, including boardwalks, trails, park space, break walls, marinas, sewer and water pipes, roads and bike paths.

Plans for Pier 8 include a 30-metrewide promenade that will be developed, programmed and owned by the City. It will connect with a continuous waterfront trail that connects with Princess Point and Cootes Paradise.

The promenade, being designed by Forrec Ltd., will pay homage to Hamilton’s industrial and waterfront heritage and feature

a stage, beach, playground, games room and ball court, shaded seating, terraced decks, and public art.

Construction is expected to begin this spring.

“Hamilton has fabulous waterfront potential,” said Hamilton realtor Judy Marsales. “The plan calls for residential and business components but also the opportunity to engage with the natural setting we’ve been blessed with.”

Hamiltonians have rediscovered the beauty of the waterfront after decades of industrial use that made it unappealing and inaccessible.

Real estate values have soared in the neighbourhood, she said.

“I know someone who bought a property on Bay Street North in the 1970s and people wondered what was wrong with him. Now he looks like a genius.”

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