Montez buys Waterloo’s Factory Square office complex

RENX  Commercial  •  Office  •  Ontario

Montez Corporation has acquired the 526,235-square-foot Factory Square office complex in Waterloo, Ont., for $122.8 million as part of its strategy to focus on technology hubs.

Growth fund next step in The Pearl Group’s evolution

RENX  Commercial  •  Industrial, Office, Retail  •  Toronto / GTA

The Pearl Group is a family-owned investment management firm which has been part of the Toronto real estate scene for almost 50 years. Under its third-generation president, Jordan Pearl, the firm has launched and is deploying funds from its first equity fund.

Burnaby approves 40-acre F.N., Aquilini project

Residential, Commercial  •  Western Investor

Burnaby city council has approved the redevelopment of the Willingdon Lands, paving the way for the largest First Nation-led real estate project in the city. More than 5,000 homes, 17 towers, office space and a 450,000-square-foot film studio are planned.

EPR acquires Quebec hotel, Ottawa waterpark for $179M

Commercial  •  Business Wire  •  Canada Newswire  •  leSoleil

Kansas City-based EPR Properties (EPR-N) is acquiring the Village Vacances Valcartier resort and hotel in Quebec City and the Calypso Waterpark in Ottawa for approximately $179 million, and will lease the properties to Premier Parks.

Montoni to build 90K-sq.-ft. Morehouse Foods facility

Commercial  •  Canada Newswire

MONTONI has launched construction of Morehouse Foods Canada‘s new facility, which will incorporate its headquarters and a sauce and condiment production plant — a 90,000-square-foot building in Laval that will be completed by January 2023.

Montreal retail leasing seeing improved activity

Commercial  •  Retail Insider

A report by JLL said the retail leasing market in Montreal is expected to strengthen this year as Quebec enters a more stable environment, with retail sales up 30 per cent compared to a year ago.

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Why small businesses should move back to main street

Commercial  •  Globe and Mail

Owners Scott and Kevin Saccary are moving their two business (New Scotland Brewing and New Scotland Clothing) under one roof along a Dartmouth main street. Leasing experts say the time might be ripe for others to consider similar moves.

Trudeau threat against REITs a ‘sideshow’: Cooper

Residential  •  Bloomberg  •  RENX

Prime Minister Justin Trudeau’s threat to change tax rules for REITs is a “sideshow” that will do nothing to affect home prices in Canada, according to Michael Cooper, president of Dream Unlimited Corp., (DRM-T).

CRE Matters › Reshaping our office space offers opportunity to attract, retain talent

Bonita Craig & Robyn Baxter: Colliers Canada

Decathlon Commercial Realty, CDNGLOBAL join forces

Commercial  •  Ottawa Business Journal  •  Canada Newswire

Ottawa’s Decathlon Commercial Realty announced Wednesday it will operate under the name CDNGLOBAL (Ottawa) after signing an agreement to join CDNGLOBAL group, a privately held independent brokerage based in Vancouver that officially launched last July.

Latest Sustainable Biz Canada headlines

Residential, Commercial  • 

Phyto Organix to build net-zero protein facility
Mangrove Lithium closes latest investment round
EverGen lands 50% interest in three Ontario RNG projects

Amazon warehouse pullback good news for upstarts

Commercial  •  Bisnow

Amazon reportedly plans to shed 10 million to 30 million square feet of warehouse space, a move companies competing in a historically tight industrial market see as a window of opportunity that hasn’t been this open since pre-pandemic.

Return to the office or get out: Elon Musk

Commercial  •  Financial Post  •  CTV  •  Yahoo Finance

Chief executive officer Elon Musk is demanding Tesla office workers return to in-person work or leave the company. The policy was disclosed in leaked emails Musk sent to Tesla’s executive staff Tuesday.

Nicola Wealth acquires Seattle-area CRE buildings

Commercial  •  Globe Newswire  •  RENX

Nicola Wealth Real Estate has acquired Gateway Corporate Center buildings 5 and 6 in Tukwila, Wash. The acquisition features two light industrial / flex office buildings totalling 85,104 square feet on 5.24 acres within Gateway Corporate Center. The office park is 95 per cent occupied.

Brooklyn megaproject developer on default watchlist

Residential, Commercial  •  Bisnow

Shanghai-based Greenland Holdings, the parent company of the co-developer of Brooklyn megaproject Pacific Park, is the latest major Chinese property giant to face concerns about its ability to meet its obligations.

47% of Gen Z say homes close to work a priority

Residential  •  Globe Newswire  •  Daily Hive

Nearly half (47%) of urban Canadian Generation Z adults rank proximity to their workplace as a top priority for the location of their first home purchase; however, just 15% indicate that buying in or close to the downtown core is a priority.

Many investors likely ‘to hit pause’ on buying: Realosophy

Residential  •  Bloomberg

VIDEO: John Pasalis, president at Realosophy Realty, joins BNN Bloomberg to discuss the impact of the Bank of Canada’s latest interest rate hike on the housing market.

Fraser Valley housing sales set to plunge: BCREA

Residential  •  Business In Vancouver  •  Canada Newswire

Housing sales in the Fraser Valley will fall more than 30 per cent this year – most in the province – compared to 2021 and price increases will flatline by 2023, according to the BC Real Estate Association.

Richmond, B.C., housing prices up 25% Y-O-Y

Residential  •  Richmond News

House prices in Richmond, B.C., continued to balloon in early 2022 with the most recent home-price index showing single-family homes at about $2.18 million. Single-family homes in Richmond are up 25 per cent compared to a year ago and are selling faster.