An inside look at Black Friday shopping in Canada

An inside look at Black Friday shopping in Canada

Black Friday in Canada conjures up images of blanket-wrapped shoppers lining up outside electronics stores in the cold pre-dawn hours to take advantage of deep-discount door-crasher specials that have likewise drawn in their U.S. counterparts since the 1930s. But a new picture of the sales event is beginning to emerge in this country.

Financial Post

Black Friday looms large for GTA retailers

GTA retailers are expecting another busy Black Friday this year, despite reports in the U.S. suggesting that consumer interest in the event may be flagging. “Black Friday is not even close to dead, if anything, it’s growing,” said Gerry Storch, chief executive officer, Hudson’s Bay Company.

Toronto Star

Two big deals for Pure Industrial REIT

It has been a busy second half of 2016 for Pure Industrial Real Estate Trust (PIRET) (AAR.UN-T), which recently announced nearly $300-million worth of acquisitions, one in Alberta and a second in the southeast of United States. The two deals “reflect our continued focus on building an industry-leading portfolio of modern distribution properties in key industrial markets in Canada and the U.S.” said Kevan Gorrie, PIRET’s president and chief executive.

Property Biz Canada

Vancouver commercial property sales soar

Claire Wyrostok, owner of popular Vancouver vegetarian restaurant Black Lodge, wonders how long it will be until Vancouver’s hot real estate market pushes her out of business. In the four years that Ms. Wyrostok has been at her current location, on Kingsway just off Fraser Street, many of the buildings in her strip have been sold and property values have more than doubled.

Globe and Mail – CBC

Gillian Lawrence joins international board of CREW

Gillian Lawrence, general manager of land development at Remington Development, was recently in Kansas City for the Commercial Real Estate Women (CREW) Network convention, where she was elected to the organization’s international board, effective January 2017. The organization of more than 10,000 professionals has a board of just nine women.

Calgary Herald

Trinity goes higher with Ottawa residential tower

Trinity Development Group has added several floors to its plans for a trio of massive residential towers, one 59 storeys, that if constructed will be Ottawa’s tallest buildings. The Trinity Station project is located near the corner of Albert and Preston streets, near the future intersection of Ottawa’s two light-rail lines.

Ottawa Business Journal

Strata offices on the upswing among investors

Downtown strata office space is rare. It once again came to the fore in August as an alternative to residential property for foreign investors keen to avoid the 15% property transfer tax. With global capital seeking investment opportunities, Vancouver has long stood as a safe haven for investors. Smaller players haven’t found it easy to make inroads, however.

Business in Vancouver

Online shoe retailer struggles to keep up growth pace

Vancouver-based Shoes.com has run into a speed bump after years of fast growth and lofty growth projections. Not only has the online shoe seller laid off hundreds of staff in the past year but it has also fielded multiple lawsuits, mostly from suppliers.

Business in Vancouver

Old Saskatoon police station possilbe office tower site

After more than three years, a buyer has been found for the former Saskatoon police station. The station has been provisionally sold to Duchuck Holdings Ltd., a local developer with properties in Saskatoon and across the United States. City council will have to vote in favour of the sale on Monday to officially seal the deal.

CBC

Hungerford Properties to revive vacant SAIT buildings

Hungerford Properties continues to show faith in Calgary with the announcement of yet another commercial real estate investment in the city. The Vancouver-based developer, led by partners George Hungerford and his sons, Michael and Andrew, bought the first Calgary property in 2012.

Calgary Herald – Property Biz Canada

Industry veteran helps build the future

B.C.’s construction workers are busy with residential projects in the Lower Mainland and industrial projects in the southern Interior. While liquefied natural gas hasn’t played out as the province once expected, Site C is gathering steam with more than 1,350 workers on site. “The industry is quite busy right now,” said Bob Cooke, recently elected chairman of the BC Construction Association (BCCA) for a one-year term.

Business in Vancouver

GWL Realty Advisors shrinks the carbon footprint of buildings

GWL Realty Advisors introduced corporate sustainability into its property management service over a decade ago, but the company isn’t standing on its laurels. It continues to refine its environmental performance practices. Proof of that comes from its Green Star rating received for a second consecutive year from the Global Real Estate Sustainability Benchmark (GRESB) survey.

Sustainable Biz Canada

Major B.C. earthquake could put ‘national economy in jeopardy’

The economic impact of a large earthquake would lead to massive financial losses and “put the national economy in jeopardy,” according to a new report. The Conference Board of Canada projected the costs of a major earthquake off the coast of British Columbia over a 10-year period after the disaster and is set to release its findings on what happens on Tuesday.

Globe and Mail

CBRE Global Investment Partners takes stake in retail portfolio

CBRE Global Investment Partners (GIP) has acquired a 45% stake in a nearly 7 million-square-foot portfolio of retail properties located in 12 West Coast markets from majority owner Merlone Geier Partners (MGP), a privately held real estate investment company. GIP said the investment gives the portfolio of 55 neighborhood, community and power centers a $1.5 billion market valuation. 

CoStar Group

Dallas faces municipal bankruptcy

Dallas has been a success story as of late. It has the fastest-growing economy of the country’s 13 largest cities; development there has been on an immense rise; and multinational companies are relocating their headquarters to the area to cash in on Texas’ low taxes.

Multifamily Executive

Market Trends and Research

Calgary council unanimously passes budget, includes tax freeze

Calgary city council unanimously approved the 2017 budget in record time on Monday, a document that includes an effective tax freeze by dipping into the rainy day fund to offset a 1.5 per cent property tax hike.

Calgary Herald

Real estate manager recalls Michael Applebaum’s words

A real estate manager has told a Quebec court that he felt like he was in a Sopranos episode in 2007 when he met with then-borough mayor Michael Applebaum and was asked to donate to a political fundraiser because “elections aren’t cheap.” Former Montreal mayor Michael Applebaum is on trial at the Montreal courthouse for conspiracy, breach of trust and two forms of corruption: municipal corruption and fraud on the government.

CBC

Retail sales gather steam as auto purchases rise

Canadian retail sales picked up in September as auto purchases climbed for the first time in three months on demand for new cars, data from Statistics Canada showed on Tuesday, reinforcing expectations that economic growth rebounded in the third quarter.

Globe and Mail

Real Estate Companies

Clarocity Corporation closes second tranche of financing

Clarocity Corporation (CLY-X) has closed the second tranche of the previously announced $4 million Debt Facility  provided by StableView Asset Management on behalf of managed accounts and funds, with gross proceeds of $1,500,000.

Canada Newswire

Real Estate Investment Trusts

Three rock-solid REITs with rising payouts

REITs can be a great addition to a diversified portfolio. They generate steady rental income and – if you choose your REITs carefully – that income will grow over time. Predicting short-term price movements of any stock is a mug’s game, but if a REIT’s payout is rising over the long run, ultimately, its unit price should also climb.

Globe and Mail

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Retail

Canadian retail sector employment to hit 12-year low

Employment in Canada’s retail sector will hit a 12-year low this year as companies adopt technology and trim costs in response to weak growth in consumer spending, says a new report released Tuesday. The Conference Board of Canada says the total number of jobs in grocery, clothing, department, home improvement, furniture and appliance stores will fall to 1.26 million in 2016.

Montreal Gazette

Sears Canada confirms real estate transaction

Sears Canada Inc. (SCC-T) announced today that it has entered into a definitive agreement for a real estate transaction for proceeds to the Company of $70 million, as previously disclosed in its second quarter earnings report dated September 7, 2016.  This transaction will not result in any store closures. 

Canada Newswire

Couche-Tard profits hurts by a flood, hurricane, oil pipeline leak

The Quebec-based Alimentation Couche-Tard Inc. (ATD.A-T) took a hit at its gas station from low fuel margins in the last quarter, but the global convenience store chain says it was only slowed down because of a flood, a hurricane and a pipeline leak.  Couche-Tard reported its second quarter results Tuesday with net earnings of $324 million, or $0.57 per diluted share, 22 per cent lower during the same period a year earlier.

Financial Post

New Development

City holds open house on what to do with Edmonton’s Coliseum

If you thought six ice rinks packed into Edmonton’s Northlands Coliseum was far-fetched, you’re not thinking hard enough. “I often think if there was a gym where you could play hide-and-seek or tag, that would be so much better. It would be awesome. A dodgeball court in there, drop-in dodgeball,” said 25-year-old Adam Melnyk with an excited laugh.

Edmonton Journal

Ottawa landowners challenge draft changes to city’s official plan

Property owners stuck up for their investments Tuesday as council’s planning committee considered changes to the city’s official plan, which is the chief playbook for development in Ottawa. The strongest words came from Mattamy Homes, whose lawyer, Mark Flowers, suggested the city’s growth projections are wrong.

Ottawa Citizen

Moriyama RAIC prize accepting submissions

The Royal Architectural Institute of Canada (RAIC) is now accepting submissions for the 2017 Moriyama international prize. The prize, which was established in 2014 by Canadian architect Raymond Moriyama, along with the RAIC and the RAIC Foundation, consists of a monetary award of $100,000 and a handcrafted sculpture designed by Canadian designer Wei Yew.

Daily Commercial News

Infrastructure

The cost to Americans of driving to the airport

Ever feel like the taxi ride from the airport costs more than the trip there? It’s not your imagination. Airports across the country add surcharges of up to $5 a ride — typically passed directly on to travellers — for trips originating at their curbs. There are similar charges for limousine, Uber and Lyft drivers as well as shuttle buses for hotels, car rental companies and off-airport parking lots.

Toronto Star

Transat and Aéroports de Montréal unveil Espace Air Transat

Transat is proud to present Espace Air Transat, a new section designed to reflect the airline’s image, located in the Montréal–Trudeau international airport terminal that opened last May. The product of an innovative partnership, Espace Air Transat welcomes travellers in a lively atmosphere brightened up by the joy of vacations.

Canada Newswire

Other

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