+ Pembina Pipeline Corporation will convert Pembina Pipeline Income Fund to dividend paying corporate entity October 1, 2010
+ Quebec and Alberta Finance ministers called on Minister Flaherty to abandon his project to create a single financial regulator in Canada, arguing the current passport system is adequate, while at the same time encouraging enhancements to the criminal code for financial crimes
+ Suncor Energy embarking on $1billion tailings pond reduction program; got conditional regulatory approval
+ WestJet Airlines cutting fares by average of 25% on flights as alternative to seat sales
+ Westjet Airlines in negotiations with China Eastern Airlines to form partnership
FACILITYCalgary - Calgary oil & gas, business and real estate NEWS, Mark Kolke (Editor) - President, MaxComm Realty Advisors - Calgary office leasing, Calgary industrial leasing, P3 Public Private Partnerships - MaxComm Communications Publisher
Readers are encouraged to forward news items, commentary, feedback & items for our 'on the move' section by writing to: research@maxcomm.ca
Some dynamics I see at work in the market . . . more lately than I’ve seen in quite a while:
+ the best deal.. is the one you negotiate now; I find it strange sometimes that the terms I negotiate for a new tenant taking up vacant space are not as favorable as Landlords offer their current Tenants on a renewal basis. The challenge is to negotiate the better new-deal without moving, but it seems to me many Landlords won’t offer the better deal until they finally fear the Tenant is really leaving, which by then they usually are – so it is too late. Still, by that point, the relationship has likely soured enough that the Tenant wants to move no matter what the terms because the trust level is altered.
+ lease incentives are making the rounds these days – not uncommon in a high-vacancy market; I’ve always wondered about the logic of Landlords offering incentives to the agents, instead of offering them to the Tenants – which would truly differentiate the property, ane probably be of significant interest to some Tenants . . . if they only knew there was a carrot. If a Landlord will pay me a bonus to bring a Tenant to a building I wouldn’t otherwise show to my client, wouldn’t it be better to offer the incentive to the Tenant? Then I could tell my client, ‘this is not a building I would otherwise show you, because there are reasons it is not the best choice, but the Landlord IS offering an incentive . ..’, in which case I think most Tenants would ask to see the space if the incentive was of interest …. just thinkin’ . . just thinkin’
+ Enmax opened its $31.8 million gas-fired thermal heat plant, a district energy centre, to serve EastVillage (including City Hall complex) with power and heat
+ congrats to 407 ETR, awarded 2010 New Canadian Commercial Technology/Innovation or Research and Development Award for its Vehicle Fingerprinting program, by the Intelligent Transportation Systems Society of Canada
POINTS to ponder
Statements made: Apr. 29/2010 - "What the hell did we do to deserve this?" - Tony Hayward, CEO @ BP plc May 14/2010 – “The Gulf of Mexico is a very big ocean. The amount of volume of oil and dispersant we are putting into it is tiny in relation to the total water volume."- Tony Hayward, CEO @ BP plc May 18/2010 - "I think the environmental impact of this disaster is likely to be very, very modest,"Tony Hayward, CEO @ BP plc May 31/2010 - "I don't feel my job is on the line, but of course that might change." - Tony Hayward, CEO @ BP plc ~~~ Advice to Pinocchio: “Now, remember, Pinocchio: be a good boy. And always let your conscience be your guide”. – the Blue Fairy “A lie keeps growing and growing until it's as plain as the nose on your face.” – the Blue Fairy “Well... guess he won't need me anymore. What does an actor want with a conscience, anyway?” -Jiminy Cricket ~~~ Great Quotes: “I’m not upset that you lied to me, I’m upset that from now on I can’t believe you.” – Friedrich Nietzsche
“If you tell the truth you don’t have to remember anything.” – Mark Twain
OFFICE & INDUSTRIAL LEASING
Mark Kolke, President of MaxComm Realty Advisors, MaxComm Communications and Plandflex Corporation, has been working in real estate finance, management, leasing, sales and consulting work in Alberta for twenty-eight years. His license to practice real estate in Alberta is sponsored by MaxWell South Star Realty where he is an Associate dealing in commercial, residential and agricultural properties. He moved back to Calgary eleven years ago after twenty- seven years in Edmonton. He advises tenants, buyers, developers and institutional clients on issues involving residential developments, commercial real estate and public private partnerships (P3s).
