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'Value retail remains very solid': Plaza Retail REIT CEO
'Value retail remains very solid': Plaza Retail REIT CEO
Plaza Retail REIT (PLZ-UN-T) had a relatively quiet but productive 2022 and president, CEO and trustee Michael Zakuta is optimistic about its robust development activities during the remainder of this year and into 2024.
Walmart aims to automate 65 per cent of stores by 2026
By its 2026 year-end, Walmart aims to have 65% of its stores serviced by automation, and approximately 55% of fulfillment centre volume to move through automated facilities in order to boost profits, drive top-line growth and improve operating margin.
Canadian stock deals plummet in first quarter: Refinitiv
In Q1 2023 the total value of new stock issues fell 36 per cent to $2.6-billion from $4.1-billion year-over-year. That's also well below the 10-year first-quarter average of $10.6 billion.
Two Canadian office REITs slash payouts in 3-week span
Slate Office REIT is slashing its monthly distribution by 70 per cent, making it Canada’s second publicly traded office building owner to cut its payout in the span of three weeks as vacancies rise and higher interest rates bite.
SHIFT to optimize energy use at 10 CF T.O. office buildings
An artificial intelligence-based platform designed by SHIFT Energy has been selected to optimize energy usage and reduce carbon emissions at 7.4 million square feet of Toronto office space owned by real estate giant Cadillac Fairview.
 | EMBLEM Developments Investor interest peaked for new EMBLEM tower: ALLUREThe slowdown in activity and pricing in residential real estate was a frequent media headline for much of 2022, and for a good reason. Sponsored by: EMBLEM Developments |
Loblaw board boosts Galen Weston's compensation
Grocery executive Galen Weston received a $1.2-million raise in 2022, bringing his total pay to $11.79-million, after consultants hired by his family-controlled company determined that he was underpaid.
Longo’s COO blazes trail through male-dominated industries
Deb Craven has been blazing a trail through male-dominated industries including sports and apparel, logistics and now grocery retail as the COO of Longo’s. Her career path has included positions over the years with NIKE, SportChek, Marks and Purolator.
TIFF plans ‘rejuvenation’ of Bell Lightbox HQ
This spring and summer, TIFF Bell Lightbox in downtown Toronto will undergo an “elegant reimagining” of its third-floor space with the goal of making it, according to TIFF CEO Cameron Bailey, “a true gathering place for people who love movies.”
 | The Industrial Real Estate Show Warehouse automation and roboticsChad GriffithsPartner, NAI Commercial |
Montreal rejects plans to renovate Van Horne warehouse
Montreal has rejected plans to redevelop a 99-year-old, brick-faced warehouse at 1 Van Horne Ave. as a hotel with office and commercial space. Rester Management, the owner of the 170,000-square-foot building, was seeking a zoning exemption.
Edmonton looks to convert downtown offices to residential
Edmonton council is to consider how developers can turn empty office space into residences. The city has one of the highest office vacancy rates in Canada - 23.5 per cent in Q1 2023 according to CBRE.
Detroit investor announces two major developments
Bedrock, a major Detroit-based developer that has been instrumental in transforming the city’s once derelict downtown, is now branching out by buying significant properties near the city center for a massive commercial, residential and arts complex.
Big data helps planners reimagine cities
Using big data – or large, complex datasets – Jonathan Jay, a researcher and assistant professor at the Boston University School of Public Health, has spotted connections between elements such as abandoned buildings, tree cover and gun violence.
German CRE deals plunge to a 13-year low
Germany’s commercial real estate deals dropped to a 13-year low during the first quarter as buyers and sellers struggle to adapt to the massive increase in financing costs. Transaction volumes in Q1 2023 were $5.6 billion US.
U.S. apartment sales plunge in Q1 2023
Apartment sales in the U.S. plummeted to their lowest point in 11 years. Investors purchased $14B worth of apartment buildings in the first quarter of 2023, a 74% drop year-over-year and the largest decline since Q1 of 2009.
CIBC CEO says mortgage aid for homeowners are sustainable
CIBC chief executive Victor Dodig said adjustments the bank is making for variable-rate mortgage-holders are “sustainable for the foreseeable future.” Bank has about $52 billion of variable-rate mortgages with monthly payments that aren't even covering interest.
Saint John Canada's most affordable region for real estate
Saint John has the most affordable real estate in Canada, according to real estate monitoring firm Zoocasa. Saint John's average home prices clock in at $268,400, a significant savings over the national average home price of $662,437.
Ottawa home prices, sales still well below 2022 highs
Ottawa home sales in March once again lagged behind the five-year average, as prices continued their free fall from heights seen in 2022, the Ottawa Real Estate Board reports. Sales were down 40 per cent year-over-year in March.
Ice District penthouse up for grabs in Full House Lottery
A penthouse condo in Downtown Edmonton’s Stantec Tower is the early-bird prize for the 2023 Full House Lottery. The condo is perched on the 66th floor of Sky Residences at Ice District development, and is worth about $833,000.
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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