How to Green a Nation GREENBUILD 2009 Office Market Overview

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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 [email protected] 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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