NAIOP GTA Real Estate Excellence (REX) Awards

There will be a total of five development awards:

• Office Development of the Year
• Industrial Development of the Year
• Retail Development of the Year
• Multi-Family Development of the Year
• Development of the Year (ultimate winner from the above four awards)

Development/redevelopment projects completed or substantially completed during January 1, 2023 to December 31, 2023 (Certificate of Occupancy and Substantial Completion to have been issued during this time). Development/redevelopment cost (incl. land, hard and soft costs) of at least $7,500,000.        

For office/industrial/retail developments, a minimum of 65% of GLA for conventional use of that category is required. In addition, projects must be at least 50% unconditionally leased by submission date, and residential components are not allowed within that category. Owner occupied projects are eligible for submission, provided that at least 25% of the GLA is leased/available for lease by third parties. Projects completed prior to commencement of eligibility period but did not meet the leasing threshold until the eligibility period are eligible for submission  

Five (5) key judging criteria include: Quality & Functionality (15%), Financial & Development Performance (30%), Innovation & Creativity (35%), ESG Considerations (20%), and other considerations

There will be a total of five investment awards:

• Office Investment Deal of the Year
• Industrial Investment Deal of the Year
• Retail Investment Deal of the Year
• Multi-Family Investment Deal of the Year
• Investment Deal of the Year (ultimate winner from the above awards)

Open to investment transactions closed during the Eligibility Period (January 1, 2023 to December 31, 2023). If it is a single property transaction, the property must be located within the Greater Golden Horseshoe region and must be used for office, industrial, retail or multi-family purposes. If it is a portfolio transaction, a material component of the portfolio must be located within the GGH region. The value of the transaction must be a minimum of $20,000,000 to be eligible for judging.

Three (3) key judging criteria include: Innovation and Creativity (30%), Market/Community Impact (30%) and Value to the Investor (40%).

There will be a total of four lease awards:

• Office Lease of the Year
• Industrial Lease of the Year
• Retail Lease of the Year
• Lease of the Year (ultimate winner from the above three awards)

Open to lease transactions on which an unconditional, binding lease agreement was reached during January 1, 2023 to December 31, 2023. New leases and renewals are both eligible. 

Office – minimum of 25,000 sf

Industrial – minimum of 30,000 sf

Retail – minimum of 10,000 sf (Note: Special consideration will be given to marquee tenancies that do not meet the minimum square footage requirement.)

Five (5) key judging criteria include: Quality & Functionality (15%), Financial & Leasing Performance (30%), Innovation & Creativity (35%), ESG Considerations (20%), and other considerations.

Environmental Social Governance Impact real estate related projects substantially completed during January 1, 2023 to December 31, 2023.

The Environmental Social Governance (ESG) Impact Award will be presented to a project or corporate initiative showcasing excellence, innovation and substantial impact in integrating ESG principles within project delivery, corporate strategy or stakeholder engagement, with measurable outcomes.

Submissions should focus on showcasing the most significant aspects of the project, including outcomes, metrics (including financial impacts), and what sets it apart from recent projects or current industry best practices. Specificity is key and point form is acceptable.

The submission should cover the following 3 elements:

• An overview of the project or corporate initiative.
• Details regarding the required work effort and resulting outcomes.
• A description of how the project showcases innovation and promotes positive ESG impact, contributing to leadership within the real estate industry.

Four (4) key judging criteria include: Project Impact & Performance (40%), Innovation & Creativity (25%), Scalability (25%) and Other (10%).

Examples: This may include new sustainable development/redevelopment projects, building retrofits, corporate ESG-related initiatives or programs, contributions to the sustainable building movement, social impact, and a wide range of other possibilities.

The Icon Award is one of the individual honorary REX Awards presented annually by the Board of Directors of NAIOP Greater Toronto Chapter. The Icon Award is given each year to a member of the Greater Toronto Area commercial real estate industry to recognize the outstanding contributions and achievements attained to this point in his or her career. It is a reflection of this individual’s dedication to the betterment of the industry.

The Nominee must be well known in the real estate community as someone who is or has been actively involved and/or made significant contributions in the commercial real estate industry in the GTA. This person should also be (or have been) a member of NAIOP Greater Toronto.

The award recipient shall be selected from among the nominees based upon their contributions and achievements as described by the nominators. The Nomination must include a descriptive story of your Nominee’s distinguished career, accurately detailing how the Nominee’s contributions and achievements have inspired others and continue to show leadership in the industry.

The Community Service Award is one of the individual honorary REX Awards presented annually by the Board of Directors of NAIOP Greater Toronto Chapter. The Community Service Award is given each year to a member of the Greater Toronto Area commercial real estate industry to recognize his or her outstanding involvement and contributions in community service. The award recognizes service rendered unselfishly within the community but outside of the real estate industry.

The Nominee must be well known in the real estate community as someone who is or has been actively involved in the commercial real estate industry in the GTA. This person should also be (or have been) a member of NAIOP Greater Toronto.

The award recipient shall be selected from among the nominees based upon their contributions and achievements as described by the nominators. The Nomination must include a descriptive story accurately detailing how the Nominee’s volunteering efforts have contributed, inspired, and shown leadership. The nature of the community service may take any form, but must represent a significant contribution of time and effort and have made a significant difference to the charitable/volunteer organization or the community to which the effort is given.

NAIOP’s Developing Leader Award is given to a young professional 35 years of age or under, who has distinguished themselves in their profession and shows great promise as a future leader of the commercial real estate industry. Nominees must be members of NAIOP who were 35 or under in the previous calendar year.

The award recipient(s) shall be selected from among the nominees based upon their contributions and achievements as described by the nominators.

The Chapter Volunteer of the Year is one of the individual honorary REX Awards presented annually. The Award is given each year to an active member of the Greater Toronto Area Chapter  to recognize their outstanding contributions to the Chapter. It is a reflection of this individual’s dedication to the betterment of NAIOP and the industry.

The Nominee must be well known in the real estate community as someone who is or has been actively involved and/or made significant contributions in the commercial real estate industry in the GTA. This person should also be (or have been) a member of NAIOP Greater Toronto. Members of the Chapter Board of Directors are not eligible for nomination.

The award recipient shall be selected from among the nominees based upon their contributions and achievements as described by the nominators. The Nomination must include a descriptive story of your Nominee’s distinguished career, accurately detailing how the Nominee’s contributions and achievements have inspired others and continue to show leadership in the industry.