Concert acquires prime Toronto development site

Concert acquires prime Toronto development site

Concert Real Estate Corporation beat out 13 other bidders to acquire an approved residential mixed-use development site near the intersection of Toronto’s Sherbourne and Bloor Streets. “We were certainly willing to step up and be aggressive on the price,” said Concert president and CEO Brian McCauley. He acknowledged paying a premium because zoning is already in place to redevelop the property.

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OPG sells Lakeview generating site to development group

Ontario Power Generation has sold the former Lakeview Generating Station, a 177-acre development site in the City of Mississauga just west of Toronto, to a consortium of developers for $275 million. OPG says the 800 Hydro Road site, formerly home to a large coal-fired hydro plant, was purchased by Lakeview Community Partners Limited. The brownfield site will be redeveloped into a mixed-use community including parkland.

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B.C.’s CRE sales unlikely to top record 2017: AY

British Columbia’s commercial real estate sales last year smashed the record set in 2016 by an astonishing $3.4 billion, according to Avison Young’s year-end investment report. In 2017, 230 office, industrial and retail properties changed hands for a value of $7.5 billion. That topped the 2016 record of $4.1 billion over 147 deals. But while the pace of sales might continue, it will be tough to match the dollar value.

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Partners REIT puts 11 Western Canada properties up for sale

Partners Real Estate Investment Trust (PAR.UN) has put a ‘for sale’ sign on 11 of its 34 properties, all of them in Western Canada. The trust has retained BMO Capital Markets to broker the “possible” sale of the properties in British Columbia, Alberta and Manitoba. Partners said no sale agreements have yet been entered into, and it will “only sell properties where it believes it can obtain fair value”.

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Conflux Canada pushes sustainability, green buildings agenda

Getting Conflux Canada off the ground was a bit nerve-wracking. But as founder James McNeil prepares for year two he’s already looking for ways to grow the Ottawa event, which focuses on sustainability, clean tech and green buildings. “The main reason for getting it started was a very deep desire to make a difference,” McNeil said. Conflux Canada 2018 is set for May 10.

Sustainable Biz Canada

Downtown Saskatoon arena to replace SaskTel Centre?

I didn’t live in Saskatoon when the SaskTel Centre was built in 1988, but from what I’ve read the location was as controversial a point then as it is now. These days, Saskatoon council’s decision to commission a report on a possible downtown arena development is also stirring lots of debate.

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Six months ago: Suburban Toronto offices attract new-economy tenants

The suburban Toronto office market has had its ups and downs over the past 15 years and, while it can’t match the robust activity downtown, there’s still much to be said for it. Panelists at The Real Estate Strategy & Leasing Conference feel low vacancies and high rents downtown could draw more people to the suburbs.

Property Biz Canada

One year ago: C & W acquires Ashlar Urban Realty

Cushman & Wakefield has acquired Toronto commercial real estate firm Ashlar Urban Realty, which represents more than 150 urban assets, for an undisclosed price. Ashlar was founded in 1999. It has specialized in investment sales, office, retail and land development and is cited as a pioneer in recognizing the potential of downtown Toronto’s east and west corridors.

Property Biz Canada

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