 Oberfeld Snowcap was established over 30 years ago and has grown into the leading commercial real estate advisory company in Canada. RLI speaks to Executive Vice Presidents Chris Tarrant and Jim Murdoch about how the business has grown and its plans moving forward.
Specialising in mall locations, power centres, lifestyle centres and street retail locations from coast to coast in Canada, Oberfeld Snowcap offers comprehensive expertise to ensure optimal brand identity in the market for its retail clients.
Oberfeld Snowcap has grown over time through mergers and acquisitions of retail advisory services. The company’s mission is to provide retailers with the best level of service and the best intelligence available and to facilitate making the best decisions possible. This has not changed over the last three decades.
Chris Tarrant, Executive Vice President, based at the Toronto office, says: “We have been growing the company for 30 years and we have established offices in Montreal and Toronto which gives us a strategic advantage and sets us apart from competitors in terms of national scope. We consider ourselves experts in all facets of retail real estate.”
Jim Murdoch, Executive Vice President, based at the Montreal office, says: “We have a very strong client base and a good brand mix – ranging from large international brands to medium and smaller retail chains.
“We sit down with retailers that are new to the market and work out their development strategy for the Canadian market. We establish a one, two or three year strategy and then go out and work with them on those plans. We become their eyes, ears and real estate department for the Canadian market.”
 Oberfeld Snowcap has an exclusive client base of over 250 brands in Canada – a portfolio it has built over the last 30 years.
“Canada is the heart and soul of our business,” says Tarrant. “We founded our business here and we have developed a very strong business, but we are now actively assisting a number of clients with their expansion into the United States and we are being asked to provide assistance in markets outside of Canada.”
Murdoch adds: “Like most retailers, unless they are working on a global plan they will soon get left behind - and it’s the same for our business. We are actively working on strategic plans to get ourselves established globally.
“Retail has become global and retailers want to be relevant and remain relevant and therefore they have to think globally.”
The Canadian economy is very strong, boasting one of the world’s strongest banking systems, low unemployment, strong housing economy, low inflation and good job creation. Tarrant and Murdoch both believe any retailer is assured of a return on their capital by entering Canada.
Murdoch said: “For us, the Canadian market remains one of the healthiest markets globally and that’s why all these international brands are looking to expand into Canada. There is a lot of development taking place.”
Around half the population of Canada is contained within about six cities – Vancouver, Edmonton, Calgary, Toronto, Ottawa and Montreal. These are the markets these global brands look at establishing themselves in when they are first to market.
Tarrant said: “The broad diversity of the demographics from coast to coast here offers something for everybody. We have very sophisticated markets with a lot of disposable income.”
www.oberfeldsnowcap.com
For the full article, please see the November 2011 issue.
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