Labour, materials cause big spike in B.C. construction costs

Labour, materials cause big spike in B.C. construction costs

The construction cost escalation rate in B.C. this year could be as high as 12 per cent, industry stakeholders said at a panel discussion in Vancouver. “This is very significant and we see, in some cases, developers just shelve some projects . . .” said panelist Wayne Procter, a director with BTY Group.

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Higher big city leasing rates buoy RioCan’s financial outlook

Rising interest rates and changing economic conditions are causing a slowdown in RioCan Real Estate Investment Trust’s efforts to divest $2 billion of its retail assets across the country, CEO Ed Sonshine said on the Q3 financial results conference call.

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The People Space: Kirk joins Cominar, Roth advises AY…

Cominar Real Estate Investment Trust has hired Heather C. Kirk as executive vice-president and chief financial officer effective December 3. Kirk is a seasoned executive with over 20 years of experience in real estate, capital markets, investment banking and equity research.

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Avison Young to acquire U.K.-based GVA

Toronto-based Avison Young announced Thursday it will acquire GVA, one of the U.K.’s most diverse real estate advisory-led businesses. It will combine GVA with Avison Young’s existing U.K. operations. AY is acquiring GVA from Apleona Limited, a portfolio company owned by global private-equity firm EQT.

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Growing proptech sector offers opportunity, challenges

During 2013 venture investors sank $650 million into property technology, but that number ballooned to $2.2 billion in September alone according to MetaProp NYC partner Zak Schwarzman. PropTech, as it’s known, has obviously become a growing factor in an industry accused of being slow to change and adopt new technology.

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The Class-A Lobby Checklist

SPONSORED CONTENT: In competitive office leasing markets, the significance of the building lobby should not be overlooked. It’s a place where functionality and tenant experience converge, and – if you believe in the old idiom “the first impression is your last” – then it means a hell of a lot to your team of brokers as well.

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Does Saskatoon need a daily Farmers’ Market?

The City of Saskatoon has officially put out a tender to lease the Farmers’ Market building in Riversdale. The facility is currently leased to, and operated by, the Saskatoon Farmers’ Market Co-operative Ltd. In its original agreement to lease the property, the co-operative outlined plans to expand the market hours over time.

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Six months ago: Bombarbier selling Downsview site to PSP Investments

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.

Property Biz Canada

One year ago: Amazon to expand in Oxford’s new Vancouver office

Amazon and Oxford Properties have inked a long-rumoured office lease in Vancouver which will allow the e-commerce giant to double its workforce from 1,000 to 2,000 in the West Coast city. The announcement isn’t the highly coveted HQ2 Amazon is planning to build, but it is a significant addition to the city’s office market.

Property Biz Canada

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