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More growth on way in Ontario's surging self-storage sector
More growth on way in Ontario's surging self-storage sector
Ontario's 37.3-million-square-foot self-storage sector has grown by more than 4.2 million square feet during the past three years and more space is coming.
Toronto office vacancies hit 28-year high: CBRE
The office vacancy rate in downtown Toronto reached 15.3% in Q1 2023 - its highest point since 1995, according to a report Tuesday from brokerage CBRE. The national office vacancy rate, meanwhile, climbed to a record high of 17.7%.
 | The Property Law Hub Canada amends prohibition on foreigners acquiring residential real estateDaniel WaldmanLawyer, Dickinson Wright LLP |
Optima, Axium acquire 7 Alberta seniors homes for $440M
Optima Living and Axium Infrastructure have acquired seven seniors living assets via their Yarrow joint venture for $440 million, adding over 1,200 beds to its Alberta portfolio.
Shopping centres get creative to draw customers
Gone are the days when retail shops and a food court were sufficient for a mall. Today, landlords such as Cadillac Fairview recognize Canadians want full-on experiences at their local shopping centres that will entice them to come back.
A slow start to 2023 for retail sales: Analysis
Continuing the trend towards the end of 2022, Canadian retail sales started with minimal growth in 2023 with "All Stores" in January growing 5.5% year-over-year and "All Stores Less Automotive, Food, Pharmacies" up 4.5%.
Foodtastic plans 50+ O’Tacos Canadian locations
Foodtastic is partnering with QSRP to bring at least 50 O’Tacos locations to Canada beginning later this year. QSRP owns the O’Tacos brand which was founded in 2007 in France and currently has more than 300 locations.
Calgary EVER Square shopping centre unveils first retailers
EVER Real Estate Developments has released a list of some of the businesses which will occupy its new EVER Square shopping centre in Calgary, a mix of medical, commercial and retail firms, service providers and restaurants.
Vancouver not looking to demolish B-, C-class office space
Unlike in Calgary and many U.S. cities, there is no appetite in Vancouver to demolish or repurpose the B- and C-class buildings that make up more than half of the vacant space in the city.
Ontario to assist cities caught in development fee squeeze
The province will backstop Toronto and other cities if audits find new legislation exempting developers from some fees — money that would otherwise fund new roads and sewers — leaves them short of cash, says Ontario’s minister of municipal affairs and housing.
CABN to showcase net-zero homes in Canada, the U.S.
CABN.CO Ltd., a Toronto-based prefabricated home builder, is spreading the word about its mission to develop sustainable, net-zero and rapidly built affordable houses with prototypes that will be unveiled in Mallorytown, Ont., and in four U.S. states.
Microsoft abandons plans for London office complex
Microsoft Corp. is abandoning plans for a new office complex in London, the company said Tuesday, showing how plans to trim 10,000 workers this year will affect its real estate needs. Microsoft office leases in Reading, England, expire in 2026.
Short sellers set sights on U.S. office REITs
In recent weeks, short sellers have begun circling U.S. office REITs with special zeal, particularly those with portfolios centred on New York and the West Coast. New York-based SL Green Realty Corp., has become an especially popular short.
NYC office repricing wave is here
Manhattan office asset prices turned negative in Q3 2020, shrinking 1% year-over-year after seven quarters of gains. The declines have been accelerating in recent quarters, down 13% year-over-year in Q2 2022, 17% in Q3 and 18% in Q4.
Hong Kong office market shows signs of bottoming out
Hong Kong’s depressed office-rental market is showing signs of bottoming out, with agents fielding more leasing enquiries and rents expected to edge up by the end of the year, according to market players.
Ontario to tackle ‘renovictions’, add adjudicators
Queen’s Park is doubling the number of Landlord and Tenant Board adjudicators and imposing new rules for property owners in hopes of preventing more renters from being “renovicted.” There are no plans to impose more rent controls, however.
Mortgage aid sustainable for ‘foreseeable future’: CIBC
Canadian Imperial Bank of Commerce chief executive Victor Dodig said the accommodations his bank is making for variable-rate mortgagors who’ve seen their borrowing costs spike are “sustainable for the foreseeable future.”
More GTA homes selling for over list price in March
For the first time since May 2022, the average selling price of homes in the GTA exceeded the average list price by about one per cent in March, according to the Toronto Regional Real Estate Board (TRREB).
Surrey council approves 12.5% property tax hike
Surrey councillors voted to pass the city's five-year budget Monday, approving a 12.5 per cent property tax increase in the process. The city, B.C.'s second-largest by population, has approved the highest average property tax increase among Metro Vancouver municipalities.
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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