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DON WHITE, Executive Vice President with Colliers International, and
CHASE ALLEN, Vice President with Canada ICI, sat down with BOMA to talk about
investment activity in Winnipeg’s commercial real estate market. Don and Chase both
recently participated in the Winnipeg Real Estate Forum, and Don served as moderator for
BOMA’s annual State of the Industry Luncheon in November.

Did a lot of properties change hands in 2017?
What were some of the noteworthy sales in each sector?

DW: From a sale perspective, trading volumes of existing investment grade The year’s largest retail portfolio transaction
assets were definitely muted in 2017 with overall sales totaling only $428 was another private local investor’s acquisition
million being an 11% decline from the previous year and well off the 5-year of the MDR Investments commercial portfolio
trailing average of $632 million being a 32% reduction. totaling nearly 118,000 sq. ft. of commercial
The largest portfolio transaction of the year was the sale of Allied flex storefront space over 12 properties
Properties REIT’s office and industrial entire portfolio in Winnipeg to located along major commercial corridors in
a private local investor which closed late in 2017. The portfolio consisted Winnipeg such as Osborne Street, Academy
of five properties with a combined rentable area of 343,083 sq. ft. which Road, Pembina Highway, and Portage
included four exchange district heritage office buildings and a multi-tenant Avenue. Similar to the Allied Portfolio, this new
industrial property located at 1500 Notre Dame Avenue. All of these assets owner has already engaged in active re-
are expected to be repositioned in the short to medium term consistent with development with the properties located at 99
one of the prevailing themes for commercial real estate in Canada heading and 121 Osborne Street already substantially
into 2018. renovated in
this regard.

Manitoba 2018 Commercial Building Directory 61