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Edmonton industrial vacancy rate nudges up to 4.4%

The Sacramento Bee reports on Avison Young opening new offi

Calgary Herald runs front-page photo of Avison Young's Alex

Fall 2008 Calgary Investment Review is featured

Boston

... Professionals Listings Services Research About Mailing Address 52-R Roland Stree... ...nbsp; 617.776.3530 Managing Director:  John W. Fenton ... ...en culture, has an economy firmly set in the present, if not the future, fueled by innovation and collaboration in advanced technology, science and education. The Massachusetts capital and largest city, Boston is the educational, cultural and economic hub of New England. Greater Boston is the 10th-largest metropolitan area in the United States, with more than 4.5 million residents. The region ranks among the 10 largest economies in the U.S. and 15 largest in the world.Reflecting the strength of Boston’s healthcare and education sectors, the city’s top three employers are Massachusetts General Hospital, Brigham and Women’s Hospital, and Boston University. Projections indicate that healthcare and education could make up 27% of Boston’s job market by 2014, largely due to the sectors’ continued growth during recessionary periods. Accordingly, a significant portion of Boston’s commercial real estate is owned by institutional investors in the two sectors.Attracted by the region’s highly educated workforce, technology (including information technology, medical devices, biotechnology, genetics and clean technology) is another source of strength. Companies like Biogen Idec and Genzyme maintain headquarters in Cambridge, the biotech and life sciences hub of New England.Financial and legal services companies make up the majority of Boston’s central business district. Serving insurance giants such as John Hancock and Liberty Mutual, the city is also home to Fidelity Investments, State Street Global, and Wellington Management.MarketsOfficeGreater Boston’s office market comprises more than 153 million square feet. Demand is traditionally highest in downtown Boston, and in the western and northern suburbs. Downtown Boston’s Back Bay and Financial District are home to some of the country’s top financial and legal firms such as Fidelity Investments, Wellington Management, State Street, Ropes & Gray, State Street Bank, Bank of America, Brown Brothers Harriman, and Goodwin Procter. The suburbs host prominent national companies like Reebok, VistaPrint, Bose, TJX, and Arbella Mutual Insurance.RetailThe retail market is focused on high-end product with great co-tenancies. Dominant retail markets include downtown Boston’s Back Bay submarket, as well as suburban hubs such as Framingham/Natick, Burlington/Woburn, and Route 1 South. Retailers with less than 5,000 square feet comprise the largest share of the market and traditionally experience the highest vacancy rates. In contrast, big-box retailers with 100,000 square feet or more account for the smallest share of the market and have the lowest vacancy rates.IndustrialThe industrial market in the metro Boston area contains more than 303 million square feet. It can be generally characterized as a stable, low-volatility market. High land values and stiff environmental and entitlement regulations create few incentives to develop new industrial product. In fact, existing supply faces erosion from upgraded adaptive reuse in Boston’s densely developed inner suburban markets.InvestmentThe Boston commercial real estate market has proven resilient during both the 2002 and 2008 recessions. Its innovation-driven economy is diversified, built upon the four pillars of education, healthcare science, technology and finance. Not surprisingly, Boston enjoys an elevated status as one of the top commercial real estate investment markets in the country. Both foreign and domestic institutional real estate investors view a presence in the Boston market as essential to a well-diversified portfolio positioned for both stability and growth.Avison Young in BostonAvison Young entered the Boston market in late 2010 by employing the same innovation and creativity that drives Massachusetts’s diverse economy. Avison Young’s Boston office has developed organically by cultivating a range of services in brokerage, asset management, project management and capital markets. Locally, Avison Young represents more than 3 million square feet of space and has approximately 1 million square feet of property under management. As the hub of Avison Young’s northeast expansion, Boston often partners with the firm’s other U.S. and Canadian offices on multi-market projects. Media contacts:  Corrine R. Lin John W. Fenton Research contacts:  Corrine R. Lin John W. Fenton ...

Stephen Leopold

... Do not override Main:  514.940.5330 ... ... Professional Profile Stephen joined the Avison Young team in March 2010 as Chair of Avison Young’s Quebec operations. He brings with him nearly $10 billion worth of direct transactional commercial real estate experience in North America over the past four decades. Upon becoming chairman of Avison Young Quebec, the Globe and Mail featured Mr. Leopold in a full page article in its Report on Business and stated: "he's as close as it comes to real estate royalty in the city". Stephen entered the commercial real estate industry in 1974. By 1977 he had become the youngest Vice-President of Eastern Canada's largest mortgage banker (now RBC) to found Leopold Property Consultants in Montreal, his home town. The company grew to become North America’s largest real estate brokerage and consultancy dedicated entirely to serving the interests of corporate users of space. The Leopold firm, and subsequently Stephen on his own, provided the impetus for more than 30 major commercial real estate development projects in the 1980s, 1990s, and at the beginning of this decade.In 1993, while in New York, he brought the idea of office building food courts — common in Canadian cities but a novel concept in New York City — to the World Trade Center, spearheading the development of SKYMARKETS in each of the twin towers. Construction of two acres-plus of food courts, beverage and reception facilities began in 2001 in the Trade Center's Sky Lobbies.Stephen's insights and knowledge of commercial real estate motivated Donald Trump to devote a chapter in his book, The 100 Best Pieces of Real Estate Advice I Ever Received, to Leopold's real estate insightsStephen was also an investigator with the United States Senate Watergate Committee in 1973, and executive assistant to Brian Mulroney in 1975-‘76 during the latter’s initial bid for the leadership of The Progressive Conservative Party of Ca...

Edmonton industrial vacancy rate holds at 4.4% in 2010

Office vacancy dips below 10% in the Greater Toronto Area

Calgary office raised $32,365 for the United Way in 2010

The Real Deal reports on Greg Kraut joining Avison Young in