Office leasing begins for Toronto’s Canary Landing

RENX  Commercial  •  Office  •  Toronto / GTA

Avison Young has started marketing six floors and 251,552 square feet of boutique office space as part of the Canary Landing mixed-use development at 125 Mill St. on the eastern edge of downtown Toronto.

Montreal remains key market for multires investors

RENX  Residential  •  Apartments, Condominiums, Homes  •  National

Investors in Canada’s multiresidential market should expect rent controls to tighten in the next few years as “governments are on the bandwagon” about housing affordability, says Martin Tovey, senior vice-president investments, Minto Properties and Minto Apartment REIT (MI-UN-T).

CEO Gary Berman discusses Tricon’s next moves

Residential  •  Toronto Star  •  RENX

In an interview on CBS News last month, the CEO of Toronto-based Tricon Residential Inc., Gary Berman, presented a tag line of sorts for his company: “You can rent the American Dream,” he said.

Ottawa looking to transform ByWard Market parkade

Commercial  •  Ottawa Citizen

A project to transform a ByWard Market parkade at 70 Clarence St.,  has the City of Ottawa up against a five-year timeline to create a showcase building in time for the market’s 200th anniversary in 2027.

Richmond CRE sales increased by $739M in 2021

Commercial  •  Richmond News

In 2021, Richmond saw $1.45 billion in sales of commercial properties – a growth of $739 million from 2020. Real Estate Board of Greater Vancouver chairman Daniel John said residential consumers, businesses and investors became more comfortable in the second year of the pandemic.

How clustering can level-up your real estate strategy

Vasant Jain: Founder, Pelion

Beedie plans business park for Kelowna airport site

Commercial  •  Western Investor  •  Castanet  •  InfoTel News

Burnaby-based Beedie proposes the two-building Stratosphere Business Centre on a 14.7-acre vacant site it purchased next to the Kelowna International Airport for $25 million or about $1.7 million per acre. The development would include 96,000 square feet of industrial and 50,000 of office.

Industrial space hottest thing in CRE: Colliers CEO

Commercial  •  Financial Post  •  RENX

VIDEO: Brian Rosen, CEO of Colliers Canada, talks with Financial Post’s Larysa Harapyn about how industrial space is setting the pace in commercial real estate.

Johnson Matthey trying to sell Quebec battery plant

Commercial  •  La Presse

Johnson Matthey wants to sell its plant in Candiac which produces cathode materials – the positive pole of an electric vehicle’s battery – for lithium-iron-phosphate batteries. The problem for the British chemical giant is that few buyers seem to have come forward.

Cannabis stores push into malls, airports

Commercial  •  Global News

Recently, cannabis shops have cropped up at airports, malls, gas station plazas and beside breweries. Some like B.C. pot retailer Seed and Stone are even planning to open virtual dispensaries in the metaverse — an immersive and emerging digital world.

Graywood tweaks plans for 14-storey mixed-use

Residential, Commercial  •  Urban Toronto

Graywood Developments submitted a third set of revisions for official plan and zoning by-law amendment applications for a site in Toronto’s Church-Wellesley Village. The amendments would allow for the development of a 14-storey, stepped, mixed-use, mostly residential building.

Petawawa’s $60M medical complex finally on track

Commercial  •  Ottawa Citizen

A new $60-million medical complex that was supposed to be open in 2019 at the Canadian military base in Petawawa remains closed. However, the Department of National Defence says it hopes to have the 105,000-square-foot facility fully operating this summer.

Slate buys $215M grocery-anchored Norway portfolio

Commercial  •  Business Wire  •  IPE Real Assets  •  Sustainable Biz Canada

Slate Asset Management announced the acquisition of a portfolio of 36 essential real estate assets in Norway for over $215 million Cdn. The portfolio’s two main tenants are grocers Reitan Group and Coop Norge, which collectively anchor all of the 36 properties.

Ivanhoé JV redeveloping Aussie building

Commercial  •  Benefits Canada  •  RENX

Ivanhoé Cambridge and the Ironside Group are acquiring a heritage property in Melbourne, Australia. The JV will create 603,000 square feet of office and retail space in the  Younghusband Woolstores building, which was built in 1906 and sits on a 1.57 hectare site.

Invesque sells US$75M in residential assets

Residential  •  Canada Newswire

Invesque Inc., (IVQ-U-T) closed on three separate sales totaling approximately US$75 million: a vacant community in Port Royal, S.C., two seniors housing communities with 99 units in New York and four transitional care skilled nursing facilities comprised of 339 beds in Texas.

Property loans re-defaulting to spur Moody’s warning

Commercial  •  Bloomberg

Troubled real estate loans for the likes of hotels and offices that saw payments get back on track after the 2020 crash are re-defaulting — signaling more pain for commercial mortgage-bond investors, according to a new study from Moody’s Analytics.

Provinces launch ‘full-scale attack’ on home prices

Residential  •  Financial Post  •  Canada Newswire  •  Globe and Mail

Provinces from B.C. to Nova Scotia are rolling out a wave of new measures aimed at reining in rampant home price appreciation, but many in the industry question whether the moves alone will be sufficient to tame the housing dragon.

Housing boom exposes black market in Fraser Valley

Residential  •  Western Investor  •  Global News

BC Housing, which enforces provisions of B.C.’s Homeowner Protection Act related to new residential construction, completed 140 investigations last year into illegal new home construction and 195 into unlicensed builders, resulting in 37 illegal home sales being stopped and sanctions against eight owner-builders.

Supply increasing in Squamish, but home prices are, too

Residential  •  Globe and Mail (Sub. required)

The district of Squamish, B.C., has delivered thousands of housing units to meet its growing population and continues to streamline its approvals process. With thousands of new units, it follows that housing prices should have at least softened. Not so.

Pot dispensaries have negative effect on Van. property: Study

Residential  •  Financial Post

A study by Justin Tyndall, an assistant professor at the University of Hawai’i at Manoa, published in Real Estate Economics found dwellings within 100 metres of a dispensary in Vancouver sold for 3.8 per cent less than comparable properties located farther away.