Overview:
Taking place on February 27, 2024 at Villa Firenze, this insightful event hosted by the SIOR Canada West Chapter unfolded with a dynamic panel discussion, focusing on the burgeoning industrial distribution scene in Alberta. Moderated by Jon Mook, SIOR, President and Managing Director of Lee and Associates, the panelists — comprising leading developers and brokers — shared their expert opinions on the province's current and future industrial trends.
Panel Highlights:
● Mark Edwards, Senior Director of Development, Panattoni highlighted their award-winning developments across Canada and emphasized the significance of working closely with municipalities and the brokerage community to drive successful projects.
● Murray DeGirolamo, President of Hopewell Development, brought to light their extensive North American presence and underscored his role in overseeing acquisitions and fostering relationships with stakeholders.
● Derek Fox, Vice President of Construction at Hopewell, elaborated on his comprehensive experience in architecture and project management, which plays a crucial role in the company's nationwide construction endevours.
● Jorden Dawson, Vice President, Industrial Development of Beedie detailed the company's substantial role as Western Canada's largest industrial landlord and shed light on the development program in Alberta and Las Vegas.
● Paul Marsden, Executive Vice President at Colliers, provided a brokerage perspective, discussing the synergies and challenges faced when juxtaposing the Calgary and Edmonton markets.
Key Talking Points:
● Calgary vs. Edmonton Markets: The panel concurred that while Calgary has become a Western Canadian distribution hub, Edmonton is catching up with increasing
requirements for larger distribution facilities.
● Diversity of Developments: Calgary's diverse industrial developments include more significant distribution plays, while Edmonton continues to grow in servicing local needs and smaller owner-users.
● Infrastructure and Demand: Calgary boasts infrastructure that supports logistics and supply chain, contributing to its status as a regional distribution center. Edmonton's developments traditionally revolve around the oil and gas service industry, which is starting to diversify.
● Investment Dynamics: Investment quality and returns differ between the markets, with Calgary generally seeing a premium over Edmonton.
● Future Outlook: Both cities are deemed to have robust markets, but Calgary might retain its edge in regional distribution due to its established infrastructure and labor availability.
Conclusion:
The event fostered discussions that painted a comprehensive picture of Alberta's industrial distribution landscape. It concluded with a consensus that although Calgary leads, Edmonton is an emerging player with promising growth in industrial developments.
We thank our sponsors, moderator, panelists and attendees for contributing to the success of the event. We look forward to producing similar events in the future.