Page 61 - 2685_BOMA_2017BuildingDirectory

I believe traditional commodity retail will shrink while service and hospitality 2. Interest rates, although
retail will expand with an increased neighborhood focus, industrial space will beginning to rise, are still at
start to feel more like service commercial with new demands on parking and on historical lows and this will continue
site commercial amenities, existing apartment buildings will face mounting and stiff to drive investment in all asset
competition from new supply, and office buildings will carry on with their broader re- classes and will drive capitalization
investment program as assets compete for available tenancy. rates lower as investors continue
to justify a smaller spread between
What are the drivers of buying and selling going in capitalization rates and
investment class properties in Winnipeg? What are buyers interest rates in an ongoing search
for yield.
looking for today, and how has this changed?
Anything else

DW: Drivers for real estate investment in our market will again be: 1) the general we should be looking for in
stability of our broader market leasing and development fundamentals; 2) this sector in 2017?
the inflation hedge real estate traditionally delivers; 3) the relatively muted supply
equation across all sectors; 4) the general demand for alternative investments in
the investment community; and 5) the ongoing yields available in comparison to DW: Yes, I would still follow, not
fixed income investment comparisons. worry, about the risks one cannot
control! That’s everything from the
CA: Going into 2017 we believe there will be two main drivers of investment in
Winnipeg: new US president, government
participation in the development
1. With the general Canadian economy still struggling as we come into 2017, we cycle, servicing demands of a
believe that Winnipeg’s stable economy will continue to be very attractive for both growing city, immigration patterns,
outside and local investors. and so on.

All participants in the broader
Manitoba real estate market must be
careful to not overbuild as supply
is, and always has been, the real
FOR COMPETITIVE BIDS... estate business’s fundamental risk,
not rising interest rates and not even
USE political shocks as we learned in the
fall of 2016.

Ensure your construction and renovation Interview has been condensed and edited.
projects receive the attention they deserve.
Post your projects in BUILDWORKS,
Winnipeg Construction Association’s FREE
bid opportunities platform, viewed by over 700
Manitoba construction-related companies.
Accurate, Reliable, Timely.
This summer

marks 28 years
of BOMA’s
Golf Classic.
Contact us today to discuss your project
needs or request an information package.
Ph: (204) 774-2431 • www.winnipegconstruction.ca
BUILDWORKS@winnipegconstruction.ca The 2017 BOMA Golf Classic

TOGETHER WE BUILD MANITOBA. presented by MJ Roofing
and is scheduled for
Thursday, August 17th
1447 Waverley Street, Winnipeg, MB R3T 0P7 • P: 204-775-8664 • F: 204-783-6446
winnipegconstruction.ca at Pine Ridge Golf Club.

Manitoba 2017 Commercial Building Directory 61