Calgary’s CrossIron Mills shopping centre ‘wild success’

Calgary’s CrossIron Mills shopping centre ‘wild success’

When CrossIron Mills opened in August 2009, there were many nabobs of negativity questioning whether the shopping centre on the northern outskirts of Calgary would be successful. After all, it was entering the market just following the vicious global financial crisis that took a heavy toll on the economy and the new venture was built in Rocky View County, outside of city limits along the Queen Elizabeth II Highway.

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Morassutti on cap rates, foreign investment, Donald Trump

As Canada’s economy gained strength through the first half of the year, national capitalization rates compressed across all sectors except hotels. That may be coming to an end, however, according to Paul Morassutti, executive managing director of CBRE Canada, which just issued its “Q2 2017 Canadian Cap Rates & Investment Insights” report.

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Wilkinson Project: East Port’s new green building

The Wilkinson Project, a Dartmouth, N.S. warehouse that’s part of the Canada Green Building Council ‘s zero carbon building pilot program, has signed its first tenant ahead of its anticipated spring 2018 opening. “The industrial real estate market in Canada is a huge opportunity that LEED was missing simply because it is difficult to certify a spec building when you don’t know how it will be used,” said Judy Wall, president of East Port Properties Limited.

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Edmonton CRE investment tops $1B so far in 2017

Edmonton’s market is staging a recovery from the economic slump that plagued Alberta over the last two years according to a mid-2017 analysis of commercial real estate investment just released by Barclay Street Real Estate. Real estate investment in office, retail, industrial, multi-residential and ICI (industrial, commercial and investment) and residential land investment from January to June totalled $1,081,185,654, compared to $712,824,783 for the same period in 2016.

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Cominar REIT to sell all non-core real estate

Cominar REIT will sell its entire real estate portfolio outside of its core markets of the Montreal, Quebec City and Ottawa/Gatineau areas in a bid to reduce debt and improve its balance sheet. The sale of its Toronto, Western Canada and Atlantic Canada assets could easily generate more than their fair market value of $1.2 billion, said Cominar CEO Michel Dallaire. The move comes after DBRS downgraded the credit rating for the REIT’s unsecured debentures from BBB to BB.

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Six months ago: Empty office tower ‘skews’ New West vacancy rate

The Metro Vancouver city of New Westminster is centrally located, with relatively affordable home prices, a compact downtown core, and well-connected to the region by two SkyTrain stations. It all adds up, presumably, to a strong office climate. Unfortunately, an empty Anvil Centre Office Tower hurts those numbers.

Property Biz Canada

One year ago: For Alberta’s craft breweries, location matters

Alberta’s economy may be down in the dumps, but that combined with recently introduced government policies have contributed to a boom for the province’s craft breweries. “The elimination of production limits in Alberta is what started the growth of craft beer in Calgary,” said Colliers International Calgary vice-president Michael Massing.

Property Biz Canada

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