Health tech sector faces real estate challenges

Health tech sector faces real estate challenges

Edmonton’s commercial real estate sector must become more flexible to help burgeoning health technology businesses scale up, those involved in the sector say. “How do we get together in terms of creative spaces, creative financing to help a homegrown company who is already supplying international markets and get them to scale?” asks Reg Joseph. CEO of Health City.

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Toronto downtown office vacancy hits new low: Devencore

The torrid downtown Toronto office market is being squeezed just a bit tighter, with vacancy dipping to an historic low of 2.5 per cent says Devencore’s Toronto Downtown Spring 2018 Office Market Report. That rate – which is for all classes, not just premium space — is continuing to drop, the brokerage and advisory firm notes in the report. It calls the sector “very much landlord-favoured.”

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The People Space: Empire, Sobeys shuffle execs, new CEO at ULI

The leadership at Empire Company Ltd., and Sobeys Inc., looks very different after a series of moves involving eight senior managers. “It has been a year of solid progress in rewiring the fundamentals of our business – stabilizing margins, creating a lower-cost national structure, and setting clear strategies in areas such as ecommerce and discount,” said Michael Medline, president & CEO.

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Minto Apartment REIT updates IPO, seeks $500M valuation

An updated share offering filed Friday for the new Minto Apartment Real Estate Investment Trust values the REIT’s initial 22 Canadian properties and 4,279 apartment units at about CAD$500 million. The REIT will offer 13,794,000 shares at a price of $14.50 per unit, for gross proceeds of just over $200 million. It said unitholders are expected to receive an initial annual cash distribution of 2.83 per cent.

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Stone & South brings luxury condos to Gananoque

The Eastern Ontario town of Gananoque offers prime waterfront views, and the suites at The CaraCo Group of Companies’ Stone & South condominium project will offer some of the best. Stone & South originally had plans for 89 units in two six-storey, concrete buildings, but early buyers exclusively chose suites with waterfront views. Following a redesign, each of the 70 units offers both water and city views.

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Fair is fair in Saskatchewan cannabis retail lotto

It seems like unlikely odds, considering the Saskatchewan Liquor and Gaming Authority announced all businesses awarded a cannabis retail permit were to be selected at random. But Prairie Sky Cannabis, a Regina-based company, won licenses in Battleford, Estevan, Martensville and Moosimin. It might seem highly unlikely they’d be drawn four times, but they did submit for 28 jurisdictions. . .

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‘Envelope’ a critical factor in constructing green buildings

It all starts with a great building envelope. That was the key message from Morrison Hershfield’s Mark Lucuik and Jamie McKay, during a session on green building tips at the Canada Green Building Council’s Building Lasting Change conference. Both emphasized the importance of the envelope, which they defined as “the elements of a building that separate the controlled indoor environment from the uncontrolled outdoor environment.”

Sustainable Biz Canada

Six months ago: Strathallen markets industrial land north of Toronto

Strathallen Capital Corp. believes the time is ripe to release almost 100 acres of industrial and commercial land just north of Toronto, where land prices have risen rapidly and vacancy rates declined in recent years. The company launched site servicing of the land in Bradford-West Gwillimbury and has sold two parcels that will be developed in 2018.

Property Biz Canada

One year ago: Off-market deal spikes value of Nexus REIT

Nexus REIT’s recent purchase of a half stake in a Quebec portfolio of Sandalwood Management properties represents about a 50 per cent increase in Nexus’ gross book value to about $450 million. The purchase price for the 1.53 million square feet of gross leasable area works out to about $97 per square foot, “which is well below any replacement value,” Nexus REIT co-CEO Kelly Hanczyk says.

Property Biz Canada

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