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Big boost for Calgary Stampede Park, Matthews to build hotel
Big boost for Calgary Stampede Park, Matthews to build hotel
The announcement American-based Matthews Southwest Hospitality will build the first hotel at Stampede Park in Calgary, to support the city's BMO Centre expansion, could kickstart other real estate development in the area.
Shopify won't be moving into The Well
Ottawa-based online retail giant Shopify (SHOP-T) confirmed Wednesday it no longer intends to move into its 254,000-square-foot space at The Well, a newly built, mixed-used development at Wellington Street and Spadina Avenue in Toronto.
Empire to sell Western Canada gas stations for $100M
Sobeys parent company Empire Co. Ltd. (EMP-A-T) is getting out of the gas station business in Western Canada, selling 56 of its locations to Shell Canada subsidiary Canadian Mobility Services Ltd. for approximately $100 million in cash.
Halifax running out of industrial lands to meet demand: AG
Auditor General Evangeline Colman-Sadd told the audit and finance standing committee on Wednesday the Halifax Regional Municipality needs better long-term planning to meet the demand for industrial land with the current supply expected to meet needs only until 2024.
Lower Mainland’s CRE sales down 46% Y-O-Y
There were 349 commercial real estate sales in the Lower Mainland in Q3 2022, a 46 per cent decrease from the 646 sales in Q3 2021, according to data from the Real Estate Board of Greater Vancouver's Commercial Edge.
 | Lee & Associates Calgary’s economic strength provides resilience for impending recessionJon Mook, President & Managing Director of Lee & Associates in Calgary, discusses the three main commercial real estate indicators that will reveal Calgary’s economic dominance when compared to other major metropolitan areas. Sponsored by: Lee & Associates |
BTB REIT sells Montréal office property for $5.9M
BTB Real Estate Investment Trust (BTB-UN-T) announced the sale of an office property at 7001-7035, Saint-Laurent Blvd. in Montréal's Little Italy. The 25,322-square-foot building, acquired in September 2007, sold for $5.9 million.
Mall owners bet on digital marketplace
Oxford Properties Group and Primaris REIT both have created their own online shopping platforms that mirror some of their physical properties. The bet is that having a digital marketplace that resembles Amazon will entice shoppers back to the mall.
H&W proposes two 12-storey mixed-use buildings
H&W Development plans two 12-storey mixed-use buildings at 3600 Finch Ave. E. in Scarborough. The WZMH Architects-designed buildings would include 372 residential units, with ground-floor office space for Building 1 and retail for Building 2.
SMS Equipment breaks ground on $30M Timmins expansion
Canadian heavy equipment dealer SMS Equipment recently broke ground on a $30-million, state-of-the-art building in Timmins, Ont., which will be home to its growing mining and construction sector business.
CPPIB bidding for 2.4M-sq.-ft. Indian office complex
CPP Investments is among the bidders for Waverock, a 2.4-million-square foot office complex in Hyderabad, India. Junior venture partners Shapoorji Pallonji Investment Advisors and Allianz Real Estate bought the complex in 2019 for $250 million US.
iHeartMedia to cut U.S. real estate footprint in half
iHeartMedia is cutting its office square footage by half across the U.S. The company does not plan to close offices in any of the 160 markets where it has a presence.
Big Banks Are Pulling Back From CRE Financing
A lack of available debt is one of the biggest issues slowing commercial real estate development today, but institutional lenders say their pullback is rational given the risks in the market.
U.S. CRE in limbo following seventh rate hike
Commercial real estate financiers and borrowers alike remain in flux after the Federal Reserve closed its 2022 calendar with the year’s seventh interest rate hike, and no clear sign of the hikes letting up in early 2023.
Average rents surpasses $2K for first time: Urbanation
The average monthly cost of renting a home in Canada surpassed $2,000 for the first time in November, according to a report released Wednesday by Rentals.ca and Urbanation. The $2,024 average represents a 12.4 per cent year-over-year increase.
Canadian home sales edge down from October to November
The Canadian Real Estate Association (CREA) says seasonally adjusted home sales were down 3.3 per cent on a month-over-month basis in November. The association said Thursday the move more than erased the gain seen in October.
Housing starts drop 0.2% in November: CMHC
Canadian housing starts dropped 0.2 per cent in November month-over-month as a drop in single-detached urban starts offset groundbreaking in multiple unit urban homes, data from the the Canadian Mortgage and Housing Corporation (CMHC) showed on Thursday.
OSFI leaves mortgage stress test unchanged
The Office of the Superintendent of Financial Institutions (OSFI) said Thursday the stress test for uninsured mortgages would remain the greater of either the mortgage contract rate plus two per cent, or 5.25 per cent.
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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