Major lease in hand, Granite kicks off Brantford biz park

RENX  Commercial  •  Ontario, Toronto / GTA

The first major tenant, global chocolate company Barry Callebaut, has committed to the Granite Telephone City Logistics Centre which is now under development in Brantford, Ont.

AY acquires Madison Marquette; 20M sq. ft. of AUM

Commercial  •  Bisnow  •  Boston Real Estate Times  •  Commercial Property Executive

Avison Young is acquiring the office and industrial property management, agency leasing and project management service lines of Washington, D.C.-based developer Madison Marquette. It is expected to bring more than 20 million square feet of properties under management and add 235 employees.

Court won’t hear dispute over $1B Van. development

Residential, Commercial  •  CBC

The Supreme Court of Canada has refused to hear an appeal from property developer Concord Pacific, ending a long-running legal dispute over the billion-dollar development of one of Vancouver’s last parcels of waterfront land.

The People Space › People Space: Major executive moves at Brookfield, C&W

Don Wilcox: Managing Editor

GTA CRE deals total $7B in Q2, up 43% Y-O-Y

Commercial  •  Toronto Storeys  •  Bloomberg

A new Avison Young report says the total value of commercial real estate sales in the GTA in Q2 rose 43 per cent year-over-year. Sales of office, industrial, retail, multiresidential and industrial, commercial and investment land totalled $7 billion, up from $4.9 billion.

Morguard N.A. acquires Chicago apt. building for $133M

Residential  •  Canada Newswire

Morguard North American Residential REIT (MRG-UN-T) recently acquired Echelon Chicago, a class-A 39-storey apartment building located in the Kinzie Station neighbourhood of Chicago’s West Loop. Echelon Chicago, which includes 350 luxury apartments and 280 parking spaces, was acquired for US$133.0 million.

Menkes, Forgestone propose four residential towers

Residential  •  Urban Toronto

Menkes Developments and Forgestone Capital have proposed 22-, 45-, 49- and 56-storey towers that would include 2,263 residential units at 793 Don Mills Rd. in North York. The Sweeny &Co Architects-designed towers would comprise 129 studios; 1,608 one-bedroom or one-bedroom-plus-den; 318 two-bedrooms; and 208 three-bedrooms.

404 residential units proposed for North Etobicoke

Residential  •  Urban Toronto

A numbered Ontario company has proposed to build an 11-storey mid-rise building and a series of four-storey stacked townhouses at 422 Islington Ave. in North Etobicoke. The Studio JCI-designed buildings would comprise 404 dwelling units – 44 three-bedrooms, 171 two-bedrooms and 189 one-bedrooms.

334.5 acres leased for Spaceport Nova Scotia

Commercial  •  Business Wire

Maritime Launch Services (Nova Scotia) Ltd. (MAXQ.NE) announced the company has signed a Crown land lease of 334.5 acres with the Province of Nova Scotia for land to develop and operate Spaceport Nova Scotia.

Windsor industrial real estate prices at record levels

Commercial  •  Windsor Star

Windsor’s industrial real estate market climbed to record price levels in Q2 2022. CBRE statistics showed square footage prices for rental and sales both jumped about 33 per cent year-over-year. Rental space is $9.74 per square foot while the price to purchase was $141.16.

Why HBC is resurrecting Zellers

Commercial  •  Toronto Star  •  Ottawa Business Journal  •  CBC

Hudson’s Bay Co. — which has owned the Zellers brand since the late ’70s — plans to revive the defunct retailer, banking on name recognition and nostalgia to attract crowds. The company will open Zellers locations within its department stores next year.

REIT/REOC second-quarter financial results

Residential, Commercial  • 

Firm Capital Apartment REIT, (FCA-UN-X), Globe Newswire
Gulf & Pacific Equities Corp., (GUF-X), Globe Newswire
NexPoint Hospitality Trust, (NHT-U-X), Canada Newswire

EV Plug-In: EV Technology Group leases U.K. centre

Commercial  •  Sustainable Biz Canada

U.S. life sciences price hits record high

Commercial  •  Commercial Observer

The average sale price for life sciences lab space nationwide reached a record high of $564 per square foot in the first half of the year, even as overall sales cooled, according to a Newmark report.

Is industrial’s boom era ending in U.S.?

Commercial  •  Commercial Property Executive

U.S. industrial stands at the complex intersection of a slowing economy, the recovery of global supply chains, growing costs for carrying inventory, pent-up demand, a still-growing inventory of logistics space and a gradual turn away from e-commerce, says NAIOP.

Homebuilders say U.S. is in a ‘housing recession’

Residential  •  CNBC  •  Business Wire  •  Business Wire

Builder sentiment in the market for single-family homes fell into negative territory in August as builders and buyers struggle with higher costs. The National Association of Home Builders/Wells Fargo Housing Market Index dropped six points, its eighth straight monthly decline.

Cottage country real estate cools down

Residential  •  Globe and Mail (Sub. required)

Alexis Victor of Royal LePage Signature Realty says investors are aggressively pitching lowball offers for cottage properties in areas around Orillia, Ont., Ramara Township and the Kawartha Lakes northeast of Toronto. Sales and prices have fallen steeply.

Calgary housing market expected to slow

Residential  •  CTV  •  Calgary Herald

The Calgary Real Estate Board (CREB) says while home sales in the second quarter of the year were almost as strong as in the months prior, inventories are relatively low and supply is tight.

Kamloops proposes bylaw for high-rise radio communication

Residential  •  REMI Network

Kamloops is considering a public safety bylaw that would require in-building radio repeaters in high-rise structures for the use of emergency responders. This bylaw would be applicable to all new construction or as part of renovations to existing high-rise structures.

Ontario homebuyers stunned by extra $175K charge

Residential  •  CBC

Some buyers who, years ago, purchased builds in a housing development in Stayner, Ont., are calling for government intervention after being told they must pay an additional $175,000 before their homes will be built.