AFIRE Podcast #23: Retail, Post-Catastrophe

(Featuring Andrew Garrett, Senior Principle, Real Estate, IMCO)

How does retail adapt to disaster? The Great Toronto Fire of 1904 is a leading example of how drastic events can create a better future.

The retail investment industry has historically always been impacted the hardest during large-scale catastrophes. The SARS 2002-2004 outbreak and the H1N1 pandemic in 2009 serve as reminders of the harsh implications and desperate measures that undergo these events. Despite the changes in landscape and infrastructure, one thing is certain. There is always a way to bring people back together.

In this episode of the AFIRE podcast, Andrew Garrett at Investment Management Corporation of Ontario (IMCO) examines how events such as the Great Toronto Fire have highlighted how a population’s perception of safety is crucial to investing in retail across real estate channels.

This podcast is based on the article “Post-Catastrophe Retail” from Summit Journal (Summer 2020). Read the full article here.


Andrew Garrett is Senior Principal, Real Estate at IMCO. Andrew is responsible for growing the global real estate portfolio through strategy development, proactive asset management, and new investment partnerships. His primary focus is overseeing teams of asset managers and expanding the portfolio with new development partners in major global cities.

Before joining IMCO in 2019, Andrew spent more than 12 years at Cadillac Fairview (CF), where he was Director, Real Estate Development. In that role, he built and oversaw the team of specialists that evaluated and prioritized development-related growth opportunities to meet the long-term objectives of CF’s owner, Ontario Teachers’ Pension Plan.

Andrew holds a Global Executive MBA from Kellogg School Management and a Real Estate Development Certification from MIT Centre for Real Estate.

Andrew sits on the board advisory committees for real estate private equity firms KingSett Capital, Royal York Hotel LP, Carttera, and Forgestone Capital. He also founded a B Corp social enterprise and serves on the management committee of the Urban Land Institute, supporting and advising on social purpose real estate projects.




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