Milborne-led venture revives Port McNicoll Resort Village

Milborne-led venture revives Port McNicoll Resort Village

A partnership led by Milborne Group has purchased the Port McNicoll Resort Village property from Skyline Investments and is looking to revive the moribund project. What they’ve acquired is a massive, 1,126-acre track of prime central Ontario resort/vacation land with the potential for up to 1,800 homes and an 1,000-slip marina on Georgian Bay.

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CF Sherway Gardens completes $550M redevelopment

The final phase of CF Sherway Gardens’ $550-million redevelopment, one of the largest Cadillac Fairview projects in recent history, will officially open on Aug. 29. “Our goal is to heighten the journey for our customers at every moment by continuing to innovate the shopping experience,” said CF Sherway Gardens general manager Andy Traynor.

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Stable, steady, growing: That’s Grand Central Properties

Grand Central Properties might be headquartered in a town reminiscent of the Wild West, but this commercial development and real estate holding company is anything but brash. “We pride ourselves on being a fairly conservative group and a little bit risk averse: stable clients, good tenants and away we go,” says company president Randy Mabbott.

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‘Signs of recovery’ in Calgary CRE market: Barclay Street

After suffering through a vicious economic downturn for two years, investment in Calgary’s commercial real estate market is on the road to recovery. “Signs of recovery illuminate Calgary’s commercial real estate investment market. An increase of 24 per cent in total dollar volume pushed Calgary’s real estate acquisitions to more than $1 billion during the first six months of 2017…” says David Wallach, president and broker of Barclay Street Real Estate.

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ReDev sells second Edmonton retail property

ReDev Properties Ltd., has sold its second Edmonton retail property in the past three months, announcing Wednesday it has an unconditional agreement to sell the Daly Grove Centre. Located at 4205-4259 23rd Avenue, Daly Grove Centre has 33,311 square feet of rentable retail and office space in the residential Mill Woods area. The property is fully leased to mix of local and national tenants, ranging from medical care facilities to convenience food stores.

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Slow improvement in Saskatchewan office markets

People often ask me if Saskatoon has lulls or slower periods in commercial real estate sales and leasing. My typical response is that we tend to be busy year-round. However, summer can sometimes slow down with clients taking holidays from the office.

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Six months ago: SmartREIT teams up with SmartShop on self storage

Smart Real Estate Investment Trust has entered a 50/50 joint venture partnership with SmartStop Asset Management, LLC to build and co-own rental self-storage facilities in Canada. SmartREIT had been looking at various uses for vacant land associated with its properties and, after meeting with a number of parties, decided SmartStop and its self-storage centres were the best strategic fit.

Property Biz Canada

One year ago: Fronsac REIT quickly puts new equity to work

Fronsac Real Estate Investment Trust continues to sail along smoothly, as it just reported solid second quarter results and recently raised $5 million in new equity from a private placement of units. “That money got put to use as quickly as possible,” said chief financial officer Jason Parravano. “We had a closing at the end of July and another closing in mid-August, and we have another closing scheduled in the next couple of weeks.”

Property Biz Canada

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