The Bay’s new e-commerce warehouse in Toronto

The Bay’s new e-commerce warehouse in Toronto

Hudson’s Bay Company CEO Jerry Storch is beyond excited. Even though his chief of logistics is supposed to be leading the media tour of the retailer’s new high-tech e-commerce warehouse, Storch can’t resist adding his two cents. “It takes 15 minutes from the time we get an order till it can be out the door,” he said at the 750,000-square-foot Toronto facility.

CBC

Vancouver industrial space a bottleneck for Canada

Metro Vancouver commuters and transporters are enjoying new and improved bridges and roads, but a severe shortage of industrial space to lease or buy continues to bottleneck the movement of goods and people, say local stakeholders and experts. The current industrial vacancy rate in Metro Vancouver is 2-3% said Lee Hester, a senior vice-president with JLL in Vancouver.

Property Biz Canada

Calgary office vacancy rate headed for 30%

Real estate firm Cushman & Wakefield is ranking Calgary with Moscow, Houston, and Aberdeen, Scotland, as the “oil-centric cities” whose downtown office real estate markets have been hardest hit by the global oil price shock. In a new report, it predicts the vacancy rate for downtown Calgary’s Class-A buildings will hit 27.5 per cent by the end of next year.

The Chronicle Herald

Read articles about CRE and Donald Trump’s election as President of the U.S. in section 3 below

Operational gaps slash Vancouver green building gains

Failure to teach green building landlords and tenants how to properly use their systems and technology is undermining government-led sustainability initiatives in commercial real estate, said stakeholders and experts at a Vancouver forum last week.

Sustainable Biz Canada

Dalfen America Corp. expands Nevada industrial portfolio

Dalfen America Corp. (DAC) today announced the acquisition of a 5 building, 1.25MSF, logistics portfolio located in the premiere Sparks submarket of Reno, NV. The Reno Distribution Portfolio is currently 94% occupied to a mix of tenants who are primarily focused on third party logistics and next day delivery.

Marketwired – Property Biz Canada

Mark Ibbotson appointed Managing Director for CoStar Canada

CoStar Group has appointment Mark Ibbotson as Managing Director of CoStar Canada, which is answering the booming market’s demand for accurate, comprehensive commercial real estate information. In this role, Mark will lead CoStar’s go-to-market strategy across Canada.

CoStar Group News Release

Shanghai Tower wins ‘best tall building worldwide’ for 2016

The world’s tallest twisting tower, and second tallest building overall, Shanghai Tower, was recently selected by the Council on Tall Buildings and Urban Habitat as the 2016 winner of the “Best Tall Building Worldwide” award. Shanghai Tower was selected from among 3 other towers that won a Best Tall Building award for their region (and from 132 entries overall).

BDC Network

U.S. CRE market during the Obama years?

As President Obama’s time in the White House draws to a close, he hands over a very different economy to the one he inherited in the aftermath of the global financial crisis. Despite the discord in Washington during the past eight years, the U.S. has seen significant economic improvement.

JLL Real Views

Implications of a Donald Trump presidency for business

Election night for the 2016 US presidential race turned out to be as unpredictable as the  primaries and general campaign.  Starting out the day with odds of winning as low as 10%, Donald Trump secured the US presidency. Not only that, he takes the helm of the country with both the Senate and the US House of Representatives remaining under Republican control.

Globe St.

Trump win will drive foreign investors to safehavens: analysts

Trump’s victory as the President-elect of the United States will drive more foreign investors to the safehaven of the Australian property market. REA Group chief economist Nerida Conisbee said the uncertainty that came with the Trump victory meant people were likely to look to markets such as Australia.

Daily Telegraph

Trump once joked about buying the CN Tower in 2001

Fifteen years ago, the Financial Post had a sit-down interview with the now president-elect. Here’s the original story that ran on Nov. 30, 2001. The skyscrapers of the future are not going to be as tall as they were before Sept. 11 and that’s something that disappoints developer Donald Trump.

Financial Post

Why Donald Trump is an absolute wild card for Wall Street

Donald Trump, the financial sector hardly knows ye. During the campaign, a group of bankers from around the country were looking forward to meeting the candidate in the flesh at Trump Tower in midtown Manhattan. But at the last minute, Trump canceled so they never got the chance.

Financial Post

Statement following the results of the US elections

La Caisse de dépôt et placement du Québec today issued a statement following the results of the US elections: “The results of the US elections add an additional level of uncertainty to the global economy. As a result, we expect to see increased volatility in the months ahead until the economic policy stance of Mr. Trump’s administration becomes clearer.

Canada Newswire

Banks make commercial real estate loans tougher to get

Banks continued to tighten lending standards to commercial real estate loans in the third quarter, according to a Federal Reserve survey released Monday. The Fed survey of senior loan officers of 69 domestic banks and 21 foreign banks found standards were tightened on all types of commercial real estate loans.

MarketWatch

London’s UBS office reinvents the workspace

A desk is like a home away from home for many in the working world. Family photos, trinkets from a vacation, an extra pair of shoes or spare chopsticks in a drawer. But that comes at a price for companies, particularly in cities like London or New York, where the cost of real estate is at a premium.

Toronto Star

Market Trends and Research

Drone industry balks at government red tape

Transport Canada is dragging its heels with excessive red tape and costing the country’s drone surveillance and mapping industry big bucks in lost revenues, say industry insiders. Until about 18 months ago, Canada was considered to be a leader in the international drone surveillance and mapping community.

The Chronicle Herald

Halifax’s contentious stormwater to be changed

Halifax council says it made a mistake handling the $42 stormwater fee, and it hopes city staff can find a better way to deliver the charge. “I opened a can of worms and I am wearing it today. It doesn’t look good on me,” said Russell Walker, councillor for Halifax-Bedford Basin West, at Tuesday’s council meeting.

CBC

Real Estate Investment Trusts

True North Commercial REIT completes bought deal offering

True North Commercial REIT (TNT.UN-T) closed its previously announced bought deal offering of trust units with a syndicate of underwriters led by CIBC Capital Markets and Raymond James Ltd. An aggregate of 4,531,000 units were issued by the REIT at a price of $6.35 per unit.

Canada Newswire

American Hotel Income Properties REIT Q3 results

American Hotel Income Properties REIT, HOT.UN-T

Marketwired

Automotive Properties REIT reports Q3 financial results

Automotive Properties REIT, APR.UN-T

Canada Newswire

	RENX 2017 media kit now available
	A blended ad program, take-over advertising, writing services and a second weekly edition of Property Biz Canada in 2017. Advertising that reaches thousands of professionals in the commercial real estate industry every business day. Contact sales@renx.ca, 1-855-569-6300

 

Retail

U.S. retailers debate opening for American Thanksgiving

Thanksgiving Day shopping is a delight to some and an anathema to others, but it isn’t going away and some stores are rethinking their strategies on whether it makes sense to be open on the holiday itself.

Toronto Star

New Development

Windsor to convert Pelissier retail into more parking spaces

City council agreed to convert ground-level retail space on Pelissier Street in to more parking spaces. The city considered spending $500,000 to spruce up the retail space in the parking garage, but decided to create 51 new parking spots instead.

CBC

Infrastructure

Will Pickering finally get an airport?

The question of whether or not to build an airport in Pickering has been the talk of the city for more than four decades, but that’s pretty much all it’s been.Now that talk appears to be taking off again with a new staff report expected to go before Pickering city council’s planning committee Monday.

CBC

Ottawa Science & Technology Museum opens in one year

With less than 12 months to go until an $80-million overhaul is completed, the Canada Science and Technology Museum recently opened its doors to the media to show its progress and unveil plans for a new gallery. The museum closed in 2014 after inspectors found unacceptable levels of airborne mould during a maintenance project.

Ottawa Business Journal

Nova Scotia ensures there are no work stoppages on large projects

Developers of large construction projects of $2 billion or more in Nova Scotia, including two proposed liquefied natural gas projects, would be allowed to enter into specific agreements to ensure there are no labour work stoppages or lockouts under legislation introduced Nov. 2.

Daily Commercial News

International

Vornado extends revolving credit facilities

Vorando Realty Trust (VNO-N) announced today that Vornado Realty L.P., the operating partnership through which Vornado Realty Trust conducts its business, has extended one of its two $1.25 billion unsecured revolving credit facilities from June 2017 to February 2021 with two 6-month extension options.

Marketwired

Japanese city tries to imitate Ottawa’s massive DT sinkhole

A massive shinkhole is created in the middle of the business district in Fukuoka, southern Japan Tuesday, Nov. 8, 2016. Parts of a main street have collapsed in the city, creating a huge sinkhole and cutting off power, water and gas supplies to parts of the city.

Ottawa Citizen

Human Resources

Jason Sibthorpe joins Avison Young in London, U.K.

Mark E. Rose, chair and CEO of Avison Young, the world’s fastest-growing commercial real estate services company, announced today the strategic hiring of Jason Sibthorpe in London, U.K. Effective immediately, Sibthorpe becomes a Principal of Avison Young and Managing Director of the firm’s U.K. region.

Canada Newswire

Other

	RENX has surpassed 9,445 Twitter followers
	Follower GBL Architects is a cohesive and progressive Vancouver based firm providing a full range of architectural services to the public and private sector.
	Follow RENXca, the most comprehensive news feed on Twitter for Canadian real estate professionals.