Moderator

Linely SchaeferPartner

ICR Commercial Real Estate

Panel

Blair ForsterPresident

Forster Projects

Brad GoerzenVP LeasingArtis REIT

Doug PorozniPresident

Ronmor Developers

Gord ScraperPrincipal

Capital Crossing Advisors

Theresa WarnaarVice President

KingSett Capital

-6

-4

-2

0

2

4

6

8

2012 2013 2014 2015 2016 17Q1

Saskatchewan GDP vs Retail Sales

Saskatchewan GDP (%) Saskatchewan Retail Sales

Saskatchewan EconomyP

erce

ntag

e

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

2013 2014 2015 2016 2017FRegina CMA Saskatoon CMA

Population Growth

Regina 2017YTD Saskatoon 2017YTD 250,400 SF 320,950 SF

2.53.8

3.12.4

2.91.8

43.6

5.7

Vancouver

Saskatoon

Regina

Calgary

Edmonton

Winnipeg

Toronto

Ottawa

Montreal

Retail Vacancy (2016)

Percentage

Retail Market Breakdown

10,698,420

13,616,394

469,033 586,256

Regina SaskatoonOccupied SF Vacant SF

Regina Retail Size Saskatoon Retail Size11,167,453 SF 14,200,650 SF

0123456789

10

2012 2013 2014 2015 2016 2017F 2020FRegina Saskatoon Competitive

Retail Market Vacancy

Regina 2017F Saskatoon 2017F 4.2 % 4.7 %

-3

-2

-1

0

1

2

3

4

5

6

7

-100,000-50,000

050,000

100,000150,000200,000250,000300,000

2012 2013 2014 2015 2016 17Q1

Absorption (SF)

Regina Saskatoon Saskatchewan GDP (%)

Retail Market Stats

Regina 2017F Saskatoon 2017F44,760 SF 68,500 SF

Market Developments(Regina)

New Developments Address Size (SF) CompletionGreen Falls Landing 3850 Green Falls Drive 25,000 2017 Dream Site Lewvan Dr. & Parliament Ave. 100,000 2017 Grasslands Urban Village (Phase III) 250,000 2017 Acre 21 Phase I Arcola Ave. & Chuka Blvd. 200,000 2018 Aurora Phase I Victoria Ave. E and Zinkhan Rd. 300,000 2018 Acre 21 Phase II Arcola Ave. & Chuka Blvd. 2019 Dream Site Elmbridge (Coopertown) 67,000 2019 Capital Crossing Phase I Rochdale Blvd. 200,000 2019Aurora Phase II Victoria Ave. E and Zinkhan Rd. 300,000 ? Horizons Development Phase I Dewdney Ave. W 200,000 2019/2020 Horizons Development Phase II (Main Street) 2020/2021 Horizons Development Phase III (Regional Node) 2024 TOTAL 1,642,000

New Developments Address Size (SF) CompletionLawson Heights 134 Primrose Dr. 5,000 2017Kensington 275 Kensington Ave. 27,037 2017Stonebridge 3200 Preston Ave. 53,783 2017Kensington 150 Kensington Blvd. 76,050 2017Grosvenor Park 1501 8th Street E 79,464 2017Uof S MA2 1700 Preston Ave. 104,000 2017Hampton Village McClocklin Rd. 30,800 2018Rosewood 145 Zimmerman Dr. 160,815 2018Brighton McOrmond Dr. 245,000 2018TOTAL 536,949

Market Developments(Saskatoon)