Trends that had been affecting Canada’s commercial real estate market prior to 2020 were accelerated due to the deep impact of COVID-19.
While many in the restaurant, hospitality and retail industries were severely impacted by having to shutter their operations, fulfillment centres were rapidly expanding, with distributors and large online retailers seeking available land near high-density centres for expansion in tight markets due to the increase in e-commerce platforms as businesses migrated online.
It is expected that plans that were in the works for large retail centres to change their offerings may begin sooner — morphing into multi-use facilities with greater residential space and service components for health care and recreation.
The office market is expected to rebound, as vaccines continue to rollout and organizations plan for a return to office. A return to pre-pandemic immigration levels and multiple satellite offices may offset any planned “downsizing” or rationalization of space in urban cores.
How we can help
Osler’s team of dedicated real estate lawyers and law clerks offer unparalleled knowledge and understanding of the complex needs of the retail, office, industrial, multi-res, hospitality, development and seniors housing sectors of the Canadian market. We have the experience and the capability to successfully manage complicated, multi-property deals across Canada with multiple participants and lenders, even in a purely remote environment, thanks to the use of leading-edge technology.
The group has a wide range of domestic and international clients including REITs, pension funds, manufacturers, retailers, institutional lenders, seniors housing operators, hospitality operators, developers and mortgage lenders.
We regularly work with teams from other groups in the firm, including capital markets, tax, alternative investment, corporate, construction, environmental, infrastructure, insolvency and litigation, allowing us to spot issues and provide practical solutions in a collaborative fashion.
Our clients are increasingly in need of specialized help, whether with complex transactions, government funding initiatives, commercial lease disputes, bankruptcy matters, expropriations or planning and development matters. We are proud of our reputation of being successful negotiators and creative problem solvers who provide excellent service. The long-term relationships we build with our clients are based on trust and a thorough understanding of our clients’ needs and the complexities of the Canadian real estate sector.