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HOPA expands industrial inventory at Thorold port lands
HOPA expands industrial inventory at Thorold port lands
The Hamilton-Oshawa Port Authority (HOPA) has capitalized on the region’s tight supply of leasable industrial real estate by adding 500,000 square feet to the sprawling Thorold Multimodal Hub, Bioveld Complex.
Sandpiper asks court to force March 1 FCR special meeting
Sandpiper Group and Artis REIT are going to court to contest the proposed date of a special meeting of shareholders to determine the future direction of embattled First Capital Real Estate Investment Trust (FCR).
Canaccord managers bid to buy investment bank for $1.13B
One of Canada’s largest independent investment banks is potentially about to go private. The management team of Canaccord Genuity Inc. announced an all-cash takeover bid of $11.25 per share Monday, valuing the company at roughly $1.13-billion.
VICI Properties acquires 4 PURE casinos in Alberta: $271.9M
UPDATED: U.S.-based VICI Properties has acquired the real estate assets of four casinos in Calgary, Edmonton and Lethbridge from PURE Canadian Gaming for $217.9 million, the firm announced Monday.
CreateTO plans residential rebuild for city-owned office bldg.
The CreateTO team has applied to redevelop a seven-storey office building at 931 Yonge St., on the cusp of Rosedale, into a 21-storey residential tower with at-grade retail and a sizeable affordable housing component.
Bousfields proposes two towers in Junction Triangle
At 323 Symington Avenue in Toronto's Junction Triangle, Bousfields has submitted a zoning amendment for property owner European Bakery Supply Inc. which would bring two new towers to the northwest corner of Symington and Dupont Street.
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US-based CONTROLTEK opens fulfillment centre In Montreal
American-based CONTROLTEK, a global leader in asset protection, tracking and visibility solutions, has opened a fulfillment centre in Montreal, reinforcing the company’s commitment to Canada. The company, based in New Jersey, plans to continue expanding in Canada.
36% commercial vacancy reported in downtown Kitchener
As 2023 begins, empty storefronts and office towers persist in downtown Kitchener though CRE agents differ on the numbers. Colliers International says in Q4 2022, the vacancy rate was 27 per cent while Cushman and Wakefield reports 36.6 per cent.
Vancouver's McArthurGlen mall reports “spectacular” year
In 2022, the McArthurGlen Designer Outlet in Vancouver had a number of new store openings and 2023 promises to be another good year. Robert Thurlow, general manager of the shopping centre, described 2022 as a “spectacular” year.
Lululemon shares fall, as inflation could squeeze margins
Lululemon Athletica Inc. said it expects holiday quarter gross margins to decline as the apparel maker grapples with increased costs amid a drop in consumer spending due to persistently high inflation, causing a drop in its share prices.
Top Metro executives see 13.7% increase in bonuses
Annual bonuses of the five top executives at Metro increased 13.7 per cent as inflation in food prices gave a boost to the grocery giant. The five executives shared $13.2 million in total compensation according to company documents.
Newfoundland company to build $100M offshore supply base
Following final approval from the province's environmental department, Fermeuse Enterprises Ltd. is ready to spend about $100 million to build a marine base in Newfoundland's Fermeuse to service the offshore oil and gas industry.
Amazon might need years to recalibrate warehouse capacity
Amazon has spent months whittling down its warehouse inventory, but new data suggests it could take years for the e-commerce giant to recover from the building binge it went on in the wake of the pandemic.
Industrial leasing deflates as e-commerce boom subsides
After a run-up that will go down in the CRE history books, industrial properties in the U.S. might be finally coming to the end of their heyday, according to Cushman & Wakefield data reflecting market activity at the end of 2022.
2023 will be the year of distressed debt no one wants
Despite apparent consensus across commercial real estate that 2023 will be a year of hard times, conditions still may not be right for the distressed asset market to kick into gear.
Some GTA homeowners could see major tax hikes municipalities warn
Cuts to development fees levied against home builders, a result of the provincial government's More Homes Built Faster Act, Bill 23, could have a major impact on property taxes. One GTA municipality says property taxes could double.
Indigenous group seeks control of $300M housing fund
A new Indigenous group is seeking control of $300 million in federal government funds meant to deliver housing to urban, remote, and northern Indigenous communities.
Condo market poised to follow fall of detached home price
Because Canada’s real estate market wrapped up 2022 with price declines, some condo investors are expected to put their properties up for sale this year as variable mortgage rates continue to rise, one real estate expert said.
Homebuyers hope ‘patience pays off’ as prices drop, recession looms
Andrew Hamilton and his wife bid farewell to their home in Toronto’s Junction neighbourhood roughly a year and a half ago, when housing prices were soaring, but finding a new abode proved tricky. They've been renting ever since.
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Oct 22 2024
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