INSPIRE Fall Newsletter 2017

NAIOP Greater Toronto Chapter Developing Leader members have been busy over the past quarter. Here's news on moves and deals by your fellow DLs.


Jennifer Agro was promoted to Toronto Centre Real Estate & Construction leader at BDO Canada LLP Chartered Professional Accountants and Advisors.

David Agro has moved from Bothwell-Accurate to Specified Roofing as Vice President.

Philip Jung has joined TD Securities' Real Estate Group from CBRE's National Investment team.

Matthew Muldoon has moved from CBRE to Crestpoint Real Estate Investments as Financial Analyst.

Fabienne Nelson was promoted to Vice President at LaSalle Investment Management.

Phil Smith has joined Oxford Properties as Development Analyst.

Chrystal Yang was promoted to Senior Financial Analyst at LaSalle Investment Management.

Frances Zhou joined LaSalle Investment Management as Financial Analyst, from Starlight Investments.



Taylor Clements, Junior Analyst, Investments at Strathallen, was involved in the privatization of OneREIT, acquiring 44 properties on behalf of investors for a total purchase price of $702.9M.

Joel Goulding, at Cushman & Wakefield, completed the sale of 440 College Street, an 8,239 square foot retail asset for $8,052,000. Joel represented the Bank of Nova Scotia in the sale.

Aaron Moore, Vice President at Avison Young, recently completed several transactions:

  • Huntington Square, a 43,000sf RBC anchored retail plaza located in St. Catharines, sold for $11,100,000.
  • 101 Business Complex, a 120,000sf enclosed retail and office complex in Timmins, sold for $6,500,000.
  • A portfolio of 3 retail buildings in Kenora, anchored by Shoppers Drug Mart, sold for $5,350,000.
  • 1305 Dundas St W, a 25,600sf building located in the Little Portugal area of Toronto, sold for $5,175,000. The Purchaser intends to convert the building to a boutique hotel concept.
  • Baylane Plaza, a 20,026sf 2 level retail plaza with numerous qsr tenants, located in Barrie, sold for $5,150,000.
  • 1474 St. Clair Ave W, a 6,350sf plaza located on a corner site in Toronto, sold for $3,500,000. The Purchaser intends to develop a multi-story residential building.

John Stewart, Senior Vice President of Colliers Capital Markets in Canada, has recently completed the following sale transactions:

  • 3 BUILDING Class A office portfolio in Victoria, BC. The portfolio consists of ~300,000 sf and was sold for ~$131.5m.
  • 6 BUILDING office portfolio in Saskatchewan (5 Regina, 1 Saskatoon). The properties consists of ~225,000 sf and sold for ~$55.5m.
  • 2 BUILDING industrial portfolio with assets located in Alexandria, ON and Moxee, WA. The portfolio consists of ~660,000 sf and was sold for ~$52.1m.
  • 3 BUILDING Class A multi-tenant industrial portfolio located in Burlington, ON. The properties consists of ~324,000 sf and sold for ~$47.2m.
  • A residential development site located at 251 Manitoba Street in Toronto, ON. The property consists of 1.95 acres with an as of right density of ~374,000 sf and sold for ~$26m.
  • A multi-tenant office building located at 3007-3027 Harvester Road in Burlington, ON. The property consists of ~63,000 sf and sold for ~$12.85m.



June 13  --  (photo A) Adrian Sluga (Senior Vice President, JLL) moderated an engaging panel discussion on the development of 16 York St., with Darius Zaccak (Director of Operations, Canadian Buildings, PCL), Tõnu Altosaar (Senior Principal - Director, Middle East & North Africa, B+H Architects), and David Handley (Senior Vice President, Special Projects).

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September 12  --  Sheila Botting (National Leader, Real Estate & Construction, Deloitte LLP) moderated a panel on understanding how changes in technology are impacting consumers, retailers and landlords, including the impact of Pepper (
photo B above). The lunch and learn included presentations by Jennifer Lee and Gordana Maric from the Consumer Analytics group at Deloitte, and a panel discussion with Parham Aarabi (CEO, Modiface), Inge van den Berg (Vice President, Strategic Insights, Cadillac Fairview), Omair Haque (Senior Manager, OmniChannel Analytics, The Home Depot, Canada) and Jessica Rhee (Director, Health and Wellness Strategy and Experience, Loblaws/Shoppers Drug Mart).

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July 20  --  NAIOP DL’s networked and competed at the Summer Social at Cabana Pool Bar.

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September 26  --  Congratulations to the First Place team, champions of the Sixth Annual Development Challenge: Tim Zhu, HH Angus; Chong Zhai, BlackRock; Jimmy Wong, 20 Vic Management; Stefano Possamai, HH Angus; Dhruv Soni, HH Angus and Nikhil Dewan, HH Angus.

A distinquished group of industry leaders, moderated by Matt Picken of JLL, judged the finalists' presentations on awards night. Our sincere thanks to judges: Sharm Powell, CPPIB; Chuck Scott, Cushman & Wakefield; Richard Witt, Quadrangle; Tony Medeiros, Dream Unlimited and Alan Vihant, Great Gulf Group.

The hard work of three finalist teams was presented on the Development Challenge awards evening. The presentations impressively showcased the real estate development skills of our DLs and student members. This year, Quadrangle provided competition finalists with professional design assistance on project renderings, really enhancing the quality of these presentations.

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October 12  --  Casey Gallagher (Senior Vice President, CBRE Limited) moderated a lively panel focused on the condo market in Toronto. Panelists included Jared Menkes (Vice President, High-Rise Residential, Menkes Developments Ltd.) Jordan Morassutti (Co-Founder and Partner, North Drive Investments), Daniel Winberg (Principal, Rockport Group) and Jonathan Goldman (President, Stafford Developments).

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November 8 -- Session booking commenced for the Student Connections mentorship program.  Read More Here.  Thank you to the DL Mentors for meeting with area university students, sharing knowlege and providing career guidance.


Nominations will be accepted starting in January for NAIOP Greater Toronto's annual Developing Leader REX Award (Real Estate Excellence). Plan now to have a colleague nominate you. Watch for announcements regarding the submission process.

This prestigious award is given to young professionals 35 years of age or under, who have distinguished themselves in their professions and show great promise as future leaders of the commercial real estate industry. One or more awards may be available in any given year. Finalists in this REX award category will be selected by a panel of current Directors of NAIOP Greater Toronto Chapter. The recipient(s) will be honoured on stage at the 17th annual REX Awards Gala, March 22, 2018, in Toronto.


Previous issues of INSPIRE:

Spring 2017

Winter 2017

Summer 2016

Dealmaker of the Quarter

Alex Sharpe, Co-Founder of iQ Office Suites, announced an expanded footprint in Toronto and the establishment of their first west coast location in the heart of downtown Vancouver.

In Toronto, the company has completed an agreement to acquire BrightLane at 545 King Street West. Occupying four floors in a renovated brick and beam heritage building between Brant and Portland Streets, this 28,000 sq.ft. shared office and coworking space is in the centre of the rapidly maturing King West neighbourhood.

Just up the street at the corner of King and York, iQ has recently entered into a 36,000 sq.ft. lease for two full floors at 150 King Street West.  This LEED Gold certified office and retail building in the heart of the Financial District provides direct underground access to the TTC Subway and PATH systems.

The recently opened Vancouver facility is located at the corner of Burrard and West Georgia Streets.  Occupying the entire 21st floor of the Royal Centre, this 14,000 sq.ft. boutique offering enjoys floor to ceiling windows overlooking the city skyline, Vancouver Harbour and the Rocky Mountains beyond. 

Specializing in state-of-the-art, luxury shared work environments in premier locations, iQ Office Suites was founded in 2012 when the company launched its first location in the historic Dineen Building at 140 Yonge Street, in Toronto’s financial district.

“We are very excited to be launching our first location in Vancouver and increasing our footprint in Toronto,” said Alex.

Welcome New DL Members

DEC.1 to JAN. 31

Aaron Fisch, Cushman & Wakefield

Brian Parker, Daoust Vukovich LLP

Andrea Mager, Altus Group

Avital Zelver, Altus Group

Marc Meehan, CBRE Limited

Daniel Hoffer, Montez Corp.

Shirley Lam, Altus Group

Heather Murphy, Altus Group

Corey Ross, ImPark

Sandy Vuong, Altus Group

George Boskovic, Manulife

Luke Meng, Sun Life Investment Management

Rabiya Adhia, CBRE Limited

Kelly Armstrong, Manulife

Michael Salenieks, Lennard Commercial Realty Brokerage

Tom Vo, Bentall Kennedy

Jake Arnoldi, Colliers International

Rahim Jaffer, CBRE Limited

Monica Kazmierczak, Oxford Properties Group

Kasia Mnich, NorthWest Healthcare Properties REIT

Jennifer Parker, Fasken Martineau DuMoulin LLP

Alan Rawn, Ashlar Urban Realty Inc.

Jessica Wickersham, QuadReal Property Group

Asaph Benun, Ecosystem

Christina Basan, Carttera Management Inc.

Daniel Pegoraro, First National Financial LP

Gerard Haughey, Slate Retail REIT

Neil Pillai, Daniels Corporation

Isaac Zimmer, BMO Capital Markets

Nicolas Devesa, Impark

Aaron Enriquez, LIDD Toronto Brokerage Inc.

Joseph Pan, Avison Young

Anoop Sekhon, Toronto Realty Agency

Jamie Zeldin, Hullmark Developments Ltd.

Iris Hua, Manulife