Commercial real estate bull run to continue: Morassutti

Commercial real estate bull run to continue: Morassutti

Canada’s bull run in commercial real estate shows no sign of abating despite ongoing threats to NAFTA and concerns over Canada’s overheated housing market, said CBRE’s executive vice-president. Paul Morassutti said commercial property investment and leasing in Canada “continues to defy predictions while grappling with an unprecedented level of change”.

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Sears’ demise reflects department store retreat, retail evolution

The end of Sears Canada marks a serious blow to the department store business model but opens up new opportunities for landlords and anchor tenancies, retail and real estate experts said recently at a Vancouver panel. The departures of Zellers, Target and now Sears are part of the evolution of retail, they agree, and don’t represent a disaster for the industry.

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Retail space Saskatoon’s most in-demand CRE asset

Retail remains Saskatoon’s most sought-after commercial real estate asset class, says a new report by Colliers International.. The report notes retail landlords are experiencing low vacancies while vacancy rates have increased in the industrial and office leasing markets.

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It’s official: Amazon to expand in new Oxford 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 second headquarters Amazon is planning to build – the so-called HQ2 which cities across North America have bid for – but it is a significant addition to the city’s office market.

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Vancouver apartment sales drop as prices rise

The number of multi-family rental apartment transactions in Metro Vancouver dropped by 23 per cent through the first nine months of 2017 while the overall dollar volume for deals jumped by 35 per cent. “There was a slowdown in the number of sales transactions because of a few factors, in Goodman’s opinion,” said Mark Goodman, a principal of The Goodman Report and HQ Commercial.

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What the federal economic update means for real estate

Judging by last week’s economic update, the Liberals remain focused on two areas that have a big impact on real estate: family and infrastructure. Families with a stable financial situation are more inclined to commit to a big purchase. The Liberals continue to move in a positive direction this respect.

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Six months ago: Reseau builds Canada’s tallest seniors tower

Construction is underway on a Quebec project that has attracted interest from China and will be the tallest seniors housing tower in Canada. The 30-storey Sélection Panorama is being built at a cost of $94 million by Réseau Selection in the Sainte-Dorothée neighbourhood of Laval.

Property Biz Canada

One Year Ago: JLL adds PMX to help with infrastructure projects

JLL has acquired PMX Inc., a Toronto-based project management firm that specializes in public and private infrastructure projects, to expand its project and development services (PDS) platform across Canada. “This acquisition is very much in line with our Canadian and American growth strategy,” said JLL Canada president Brett Miller.

Property Biz Canada

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