{"id":4101,"date":"2016-11-26T11:11:05","date_gmt":"2016-11-26T19:11:05","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=4101"},"modified":"2016-11-25T10:06:23","modified_gmt":"2016-11-25T18:06:23","slug":"canadian-commercial-real-estate-in-2017-and-beyond","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/11\/canadian-commercial-real-estate-in-2017-and-beyond\/","title":{"rendered":"Canadian Commercial Real Estate in 2017 and Beyond"},"content":{"rendered":"<p style=\"text-align: justify;\">The head of a major Canadian real estate investment trust doesn\u2019t expect demand for commercial property in Toronto to abate any time soon.<\/p>\n<p style=\"text-align: justify;\">\u201cThe outlook in the next 24 months for Toronto office demand in my opinion is very, very good. There\u2019s even a shortage [of leasable office space] in certain areas of the city,\u201d says Michael Emory, CEO of Allied Properties REIT.<\/p>\n<p style=\"text-align: justify;\">That was among the predictions for Canada\u2019s commercial real estate market Emory shared on BuzzBuzzNews\u2019 Facebook Live broadcast this week.<\/p>\n<p style=\"text-align: justify;\">Speaking nationally, Emory says the election of Donald Trump as president could spur further interest in Canada\u2019s commercial segment from investors who would have otherwise put their money stateside, echoing comments from CIBC Deputy Chief Economist Benjamin Tal.<\/p>\n<p style=\"text-align: justify;\">\u201cCertainly post-Brexit, there was a discernable flow of funds into Canada because of its, perhaps, safe-haven status, and it\u2019s not unreasonable to think that post-the current election in the United States we may see a similar flow for the same reasons,\u201d Emory tells BuzzTV.<\/p>\n<p style=\"text-align: justify;\">\u201cBut only time will tell because nobody really is confident in anticipating what\u2019s going to happen in the United States of America in the next 24 to 48 months,\u201d he laughs.<\/p>\n<p style=\"text-align: justify;\">For the past two decades or so, urban intensification has been driving both the office and retail real estate segment in Toronto \u2014 today \u201cone of the strongest office markets in North America\u201d \u2014 and other major Canadian cities, says Emory.<\/p>\n<p style=\"text-align: justify;\">\u201cSince the mid-1990s, people have been choosing to live, work and play, for the most part, in the inner cities as opposed to the broader suburban areas,\u201d he explains.<\/p>\n<p style=\"text-align: justify;\">This continues to play out at a time when changes are brewing in the way office tenants and retailers operate. \u201cThere\u2019s a whole movement underway towards curated retail space that transforms almost on an ongoing basis,\u201d Emory continues.<\/p>\n<p style=\"text-align: justify;\">The CEO of Allied, which has holdings across several large Canadian cities, says this will \u201cabsolutely\u201d change the way landlords lease out commercial spaces, offering more flexibility for tenants such as pop-up shops.<\/p>\n<p style=\"text-align: justify;\">Allied is looking at a flexible \u201cmarket\u201d format for the future retail offerings at The Well, a Toronto mixed-use project it continues to plan with Diamond Corp. and RioCan REIT after deciding to sell half of the residential component to Tridel and Woodbourne this summer.<\/p>\n<p style=\"text-align: justify;\">\u201cThe old suburban notion where you needed a certain floor-plate size and massive amounts of parking simply is not achievable in the inner city,\u201d Emory explains.<\/p>\n<p><a href=\"http:\/\/news.buzzbuzzhome.com\/2016\/11\/in-store-canadian-commercial-real-estate-in-2017.html\" target=\"_blank\">What\u2019s in Store for Canadian Commercial Real Estate in 2017 and Beyond<\/a> by Josh Sherman | Buzz Buzz Home<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The head of a major Canadian real estate investment trust doesn\u2019t expect demand for commercial property in Toronto to abate any time soon. \u201cThe outlook in the next 24 months &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/11\/canadian-commercial-real-estate-in-2017-and-beyond\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-4101","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Canadian Commercial Real Estate in 2017 and Beyond &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2016\/11\/canadian-commercial-real-estate-in-2017-and-beyond\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Canadian Commercial Real Estate in 2017 and Beyond &#8226; 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