Page 12 - BOMA_2018_BuildingDirectory

RYAN BEHIE, Vice President and Managing Director for CBRE Limited in Winnipeg.
He recently spoke with BOMA about the current state of the local office market, and offered
some predictions for the year ahead.

What were some of the noteworthy downtown office deals done in 2017?

RB: There were a number of significant deals which made 2017 an In the leasing market, TD Bank will move
interesting year. all functions including wealth management,
commercial lending and a retail branch out
Beginning with the capital markets, Manitoba Liquor and Lotteries sold the of the tower once known as TD Centre, and
Medical Arts Building at 233 Kennedy Street to Toronto-based Timbercreek into 360 Main. Artis REIT completed the
Asset Management. Timbercreek has been building up a portfolio of move of their offices from 360 Main to
multifamily properties in Winnipeg in recent years and intends to convert the 220 Portage and Skip the Dishes
office building which formerly hosted an array of medical tenants. continued their quiet real estate expansion,

Following the announcement that Scotiabank would become one of the quadrupling in size to approximately 60,000
early adopters at True North Square in 2016, Bank of Nova Scotia sold sq. ft. in the east Exchange District. This
their present office building at 200 Portage Avenue to a local investor. In is significant as it brings Skip’s real estate
the Exchange District, Allied REIT has sold a small portfolio of Class C office footprint in line with, and in some cases
buildings to a newly formed local development company. exceeding, those of the traditional keynote
users such as the chartered banks, big five
accounting firms and major law firms.

12 Manitoba 2018 Commercial Building Directory