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Oxford invests $474M in Lineage Logistics
Oxford invests $474M in Lineage Logistics
Oxford Properties Group has made a $474-million investment in Lineage Logistics, the world’s largest provider of temperature-controlled logistics. The investment is part of a massive $2.11-billion equity raise by Lineage.
Hines signs tech firms to leases at Calgary’s First Tower
There hasn’t been much good news in Calgary’s downtown office market over the past six years. However, Hines bucked the trend this week, announcing the signings of two local tech firms to leases at its downtown class-A First Tower.
Triple Five’s New Jersey megamall on shaky ground
• CBC
Edmonton-based Triple Five Group‘s American Dream megamall in New Jersey is scheduled for an Oct. 1 reopening amid financial turmoil. In order to help finance American Dream, Triple Five mortgaged its West Edmonton Mall and Mall of America.
Amazon plans to put 1,000 warehouses across U.S.
Amazon plans to open 1,000 small delivery hubs in cities and suburbs all over the U.S., according to sources. The facilities, which will eventually number about 1,500, will help the world’s largest e-commerce company take on a resurgent Walmart.
10,000 register for Mission’s Kelowna tower
• Global News • RENX
The demand in the Kelowna housing market is so high the Mission Group, an Okanagan-based real estate development group, has over 10,000 registrants interested in its second tower. The new 34-storey Bertram tower will hold 257 units and presale begins on Saturday.
Seekville plans Winnipeg mixed-use development
Seekville has acquired more than a half acre of land in Winnipeg’s Osborne Village with the purchase of 197, 207, 209 and 213 Osborne. Vice-president of operations Adam Sharfe said the land has the potential for mixed-use development, with residential suites and ground-floor commercial.
Diamante’s twin-tower Mirabella Condominiums rising
Construction is in full swing at the site of Diamante Development Corp.‘s Mirabella Condominiums, a twin-tower condominium complex being built at Lake Shore Boulevard West and Windermere Drive at the foot of Toronto’s Swansea neighbourhood.
Cool weather could be turning point for malls: Colliers
Autumn’s cooler weather will be a key test for retail landlords — particularly at shopping malls. “The enclosed malls that don’t have the essential retailers, they were more dramatically affected (by COVID-19 lockdowns),” says Colliers International SVP Jane Domenico.
Montreal-born CEO vows to save MEC
• La Presse • Financial Post (Sub. required) • Winnipeg Free Press
Montreal native Eric Claus discovered the retail industry by cleaning the floor of a store. Now, after managing a chain of 1,300 U.S. supermarkets, the incoming CEO is determined to save MEC after it accepted Kingswood Capital Management‘s takeover offer.
REALPAC: Managing insurance risk post-COVID
PODCAST: On this episode of REALtalk, Peter Kennedy, National Director, Real Estate Practice, Aon Canada, discusses commercial insurance COVID claims, responses on the insurer’s side, and a needed evolution in structuring owner’s side insurance risk within net leases in Canada.
B.C. landlords squeezed as insurance costs skyrocket
A combination of factors is putting a financial squeeze on B.C. landlords who are seeing property insurance premiums skyrocket while their ability to raise rents is currently frozen and are capped at just a 1.4 per cent increase in 2021.
Ray-Ban opens first standalone store in Canada
Upscale sunglasses and eyewear brand Ray-Ban has opened its first standalone storefront in Canada at CF Toronto Eaton Centre in downtown Toronto. Ray-Ban is one of a handful of international brands that will have opened Canadian standalone stores in 2020.
Firm Capital JVs on U.S. multi-family property
Firm Capital American Realty Partners Trust (FCA-UN-X) announced it has entered into a joint venture agreement with an unrelated third party to acquire a $37-million 235-unit multi-family residential property in Hyattsville, Md.
Simon closing shopping centres on Thanksgiving Day
The U.S.’ biggest mall owner, Simon Property Group (SPG-N), announced it will keep its locations closed on Thanksgiving Day, traditionally one of the busiest shopping days of the year. Simon’s properties will reopen to the public on Black Friday, Nov. 27.
Amazon launches first online ‘Luxury Store’
• Business Insider • Bloomberg • Business Wire
Amazon is partnering with fashion house Oscar de la Renta to launch the first of its online, invitation-only “Luxury Stores.” The initiative, which will announce additional partnerships in future, will have powerful fashion brands design custom stores within Amazon’s marketplace.
Silverstein acquires L.A.’s U.S. Bank Tower for $430M
Downtown Los Angeles’ iconic U.S. Bank Tower has been sold to a Manhattan real estate developer for $430 million, the company said Wednesday. Silverstein Properties bought the 1.4-million-square-feet office building from Singapore real estate company OUE Ltd.
Big-city condo market most vulnerable: RBC
The housing market will likely cool down as demand runs its course in the coming months, RBC’s Robert Hogue forecasts, but predictions of an overall price decline may have been premature. However, he says, there’s one possible exception: big-city condos.
Vancouver city manager Sadhu Johnston resigning
• CBC • Globe and Mail (Sub. required) • Vancouver Sun
Vancouver’s city manager Sadhu Johnston, the highest-paid civic employee in the region and the person who has overseen the response to a pandemic, housing shortages, homeless camps and a drug-overdose crisis, announced he is leaving his job as of January.
Arbitration support offered to Quebec new home/condo buyers
Buyers of new homes or condos in Quebec are no longer alone in the event they proceed to arbitration. SOS Plan de garantie résidentielle announced this month the expansion of its arbitration support service in Quebec.
More Canadians want to buy a home: Survey
The number of Canadians who expect to buy a home within the next year grew this summer, particularly among renters looking for more outdoor space and distance, says the second of a four-part survey by Mortgage Professionals Canada (MPC).
Industry Events
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Canada Real Estate Auction
Oct 22 2024
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Calgary Real Estate Forum
Oct 29 2024
Calgary TELUS Convention Centre
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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