Waterloo Region CRE market hot on all fronts

Waterloo Region CRE market hot on all fronts

Waterloo Region is experiencing an unprecedented building boom for a wide range of reasons, according to Karl Innanen, Colliers Canada’s managing director for the region. “It’s a very diverse economy that’s growing quickly. A lot of that is owing to a low cost of living relative to the Greater Toronto Area. Layered on top of that, technology companies are getting huge headlines . . .”

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Brookfield sweetens bid to take over U.S. mall owner GGP

Brookfield Property Partners has added about US$2 billion to its offer to purchase GGP Inc., and says it now has a definitive agreement to acquire all outstanding shares of the U.S. mall owner which it does not currently owne. The new offer raises the cash portion of the transaction from $7.4 billion when Brookfield made its initial offer for GGP in November, to $9.25 billion.

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New ‘green’ neighbourhood at Montreal’s Technôpole Angus

An area of east-end Montreal that once housed a major Canadian Pacific Railway repair shop will soon be home to a green neighbourhood and an additional $250 million worth of development. The Technopôle Angus green neighbourhood will 895,000 square feet worth of housing, office space, retail space and green spaces.

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Nexus to buy three Western Canada industrial properties

Nexus Real Estate Investment Trust has conditional agreements to acquire two industrial properties in Richmond, B.C., and a third in Regina, Sask., for $64 million. The REIT also announced the sale of two non-core properties in Kelowna, B.C., and Yellowknife, NWT for $11.3 million. A portion of the purchases will be paid via $22.7 million in Nexus shares issued to the vendors, at a premium price of $2.10 per unit.

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Vancouver’s SPUD, Wal-Mart team up in sustainability pitch

One of Canada’s lowest-waste grocers is teaming up with the world’s largest retailer in an initiative they claim will further slash food waste in Metro Vancouver. Wal-Mart will start using Vancouver-based Sustainable Produce Urban Delivery’s (SPUD) Food-X Urban Delivery program to deliver groceries to homes around Metro Vancouver. 

Sustainable Biz Canada

Six months ago: Allied, Westbank to develop Toronto’s 19 Duncan

Allied Properties REIT has had a busy couple of days, announcing a major Toronto joint venture with Westbank will proceed, while adding a key downtown property to its portfolio. First, Allied and Westbank announced they are moving forward with the development of a mixed-use downtown property at 19 Duncan St. after revising their plans earlier this year…

Property Biz Canada

One year ago: Renaissance for Riocan’s Yonge Eglinton Centre

RioCan Real Estate Investment Trust’s 2015 expansion and renovation of midtown Toronto’s Yonge Eglinton Centre is still paying dividends.The office component of the mixed-use centre includes 754,068 square feet of space in two towers. An unnamed investment grade tenant has expanded its lease to occupy a total of 80,600 square feet on five floors of the two buildings.

Property Biz Canada

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