Vancouver has lowest office vacancy in North America: JLL

Vancouver has lowest office vacancy in North America: JLL

Metro Vancouver’s office vacancy is the lowest in North America, but gross office rents for the region remain among the most affordable, according to Jones Lang LaSalle (JLL). At 8.1 per cent, Metro Vancouver’s office vacancy is the lowest on the continent said JLL’s senior vice-president in Vancouver, Mark Trepp at the Vancouver Real Estate Forum .

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Bombardier to sell Toronto Downsview site to PSP Investments

UPDATE: Bombardier will sell its Downsview property in Toronto to Public Sector Pension Investments for $635 million. The announcement also says Bombardier has an agreement with the Greater Toronto Airports Authority (GTAA) to lease 38 acres of property at Pearson International Airport for a new centre of excellence and assembly plant for its Global business jets.

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Anthem moves back into industrial, buys Calgary properties

UPDATED: Anthem Properties has been known mainly as a retail and residential investment and development company, but it is adding a third class: industrial. It is staying close to home to start rebuilding its presence in the sector, with deals in place to purchase four Calgary properties totalling about 255,000 square feet says investment director Jordan Carlson.

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IAM Group buys 20 former Cominar properties from Slate

The president of Integrated Asset Management Corp.’s real estate group says the acquisition of 20 industrial properties in Atlantic Canada is part of a strategy to diversify its geographical holdings. The properties, primarily in New Brunswick, were purchased from Slate Acquisitions Inc., which itself had recently acquired the properties from Cominar REIT.

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Crown sells Mississauga office complex to Frastell

The two-building 6860 Century Avenue office complex in Mississauga, Ont. has been sold by Crown Realty Partners to Frastell Associates Inc. in an off-market transaction for $21.75 million. “We were approached by a buyer looking for stabilized, well-managed suburban office properties for potential acquisition…” said Crown’s Lauryn Pittana.

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Who bears the costs of crumbling heritage buildings?

It isn’t much to look at – a two-storey brick rectangle like many that dot Ottawa and date from 1940s and ’50s. But it has raised plenty of stink lately at both the municipal and international diplomatic levels. That’s Ottawa, for you. I’m talking about 231 Cobourg St. in the Sandy Hill area adjacent to the University of Ottawa.

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Six months ago: Suburban office vacancy rates drop, Colliers says

Vacancy rates have declined in all major suburban office markets in Canada and the children of baby boomers might be to blame, says Craig Hennigar, the Vancouver-based national research director of Colliers International. “That group is between 25 and 44 years old and they’re aging into a different stage of life,” Hennigar told RENX in an interview.

Property Biz Canada

One year ago: Minto Place deal big step in new direction

Minto Capital Management has sold 50 per cent of its ownership of Minto Place in Ottawa to Investors Real Property Fund. The transaction, announced Monday morning by the two companies, includes three Minto Place office towers comprising 945,030 square feet of leasable retail and office space.

Property Biz Canada

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