Devron acquires Toronto Weston Village condo development site

RENX  Residential  •  Condominiums  •  Toronto / GTA

Devron has acquired its latest condominium development site in Toronto’s gentrifying Weston Village neighbourhood. The newest addition to Devron’s property portfolio is a 0.95-acre site at the corner of John and South Station streets.

Prologis launches bid for Blackstone’s $29B warehouses

Commercial  •  Yahoo Finance

Prologis, the world’s largest warehouse owner, has launched a $29 billion Cdn bid to buy Mileway – Blackstone‘s (BX-N) portfolio of 1,000-plus logistics properties – in what would be the largest ever private real estate deal.

Teachers’ CEO focuses on infrastructure, real estate

Residential, Commercial  •  Globe and Mail (Sub. required)  •  RENX

President/CEO Jo Taylor says to address inflation, the Ontario Teachers’ Pension Plan Board has “leaned more into real assets, infrastructure and real estate, where you can have inflation-protected revenues, whether it’s rents or payments from government on an infrastructure basis.”

Andorix grows bldg. operations platform in Canada, U.S.

RENX  Commercial  •  Technology  •  National, International

Toronto proptech company Andorix is growing across Canada and its in-building network infrastructure solution is also making inroads with major developments internationally.

Artis REIT one year later: ‘Efforts continue to bear fruit’

Residential, Commercial  •  Winnipeg Free Press  •  Artis REIT letter to unitholders  •  RENX

OPINION: There were eyebrows raised and some finger-wagging regarding self-serving transactions but one year after Samir Manji and Sandpiper Group gained control of the board of Winnipeg-based Artis REIT (AX-UN-T), investors can’t feel too bad.

Edmonton ind. market diversifies beyond oil: CBRE

Commercial  •  Western Investor  •  RENX

Diversification in Alberta’s industrial markets picked up speed during the latest downturn and accelerated during the pandemic. As a result, distribution space, cleantech and other sectors have made for a wider tenant mix, while oil companies are rethinking space demands.

Edmonton airport ahead of the growing air cargo curve

Bronwyn Scrivens: Associate Broker, Omada Commercial

Air Canada inaugurates cold chain handling facility

Commercial  •  Canada Newswire

Air Canada announced the inauguration of Air Canada Cargo’s new cold chain handling facility at its Toronto Pearson International Airport cargo facility. The $16-million project was undertaken to expand and enhance Air Canada Cargo’s cold chain handling capabilities.

BGO aims new office technology at detecting COVID-19

Commercial  •  Commercial Observer  •  RENX

Toronto-based BentallGreenOak has partnered with environmental engineering firm RWDI to deploy a predictive office technology platform aimed at COVID-19 and other virus mitigation. ParticleOne will be rolled out in 200 properties across BGO’s Canadian and U.S. real estate portfolio this year.

Proptech’s prospects may rise in the wake of COVID-19

Commercial  •  Ottawa Business Journal  •  Toronto Storeys

Long before COVID-19 became an omnipresent part of Canadian life, workplace strategist Meredith Thatcher could sense an emerging seismic shift in the way tenants used technology to reimagine traditional office space.

Six-storey medical office proposed in Van.

Commercial  •  urbanYVR

A six-storey building is proposed for East Pender Street in Vancouver’s Chinatown to replace a one-storey, condemned former retail space. dlp Architecture has designed the new building to fit in with the neighbourhood’s Chinatown HA-1 design guidelines.

Paradox’s flagship hotel to open in Vancouver

Commercial  •  Globe Newswire  •  Globe Newswire

Paradox Hotel Group and TA Global Berhad announced Paradox Hotel Vancouver will open to the public on April 1. The hotel, in downtown Vancouver’s Coal Harbour, represents the flagship location for global hotel and hospitality brand Paradox Hotel Group.

Cineplex begins its recovery post-pandemic

Commercial  •  Toronto Star

Without exposure to American markets — where pandemic restrictions lifted much faster than in Canada — Cineplex has struggled to stay afloat throughout the pandemic. Retail analyst Bruce Winder says Cineplex could see its situation improve if Canada’s recovery stays on track.

Blackstone returns keys to Manhattan office building

Commercial  •  Commercial Observer  •  Bisnow  •  The Real Deal

The $308-million loan on Blackstone‘s (BX-N) Manhattan office buildings at 1740 Broadway has transferred to special servicing, and Blackstone is handing back the keys to the 26-storey office property. Deutsche Bank initially originated the loan on the property in November 2015.

Pattison Food Group strengthens its U.S. foothold

Commercial  •  Canadian Grocer

Vancouver-based Pattison Food Group continues to grow in the U.S. The Western grocery company’s Roth’s Fresh Markets business has acquired Chuck’s Produce and Street Markets, which operates two locations in Vancouver, Wash.

Top U.S. hotel/motel and retail/mall projects

Commercial  •  Daily Commercial News

The accompanying tables show the Top-10 upcoming largest hotel/motel and retail/shopping centre construction projects in the U.S. They are all in the planning stage and are mainly new projects, but may also involve additions and/or alterations.

‘Fundamental change’ needed to solve housing crisis: BILD

Residential  •  Toronto Star  •  Globe Newswire

The price of a newly built house or condo hit a historic high last month, in what Building Industry and Land Development Association (BILD) says is the latest sign a housing supply crisis could ultimately hinder the Toronto region’s competitiveness.

Mortgage industry urges feds to tackle affordability

Residential  •  Ottawa Citizen  •  Canada Newswire

Mortgage Professionals Canada said Monday that the federal government has failed to address Canada’s housing affordability problem and urged policy-makers to consider a series of recommendations that would help first-time homebuyers in particular.

Housing crisis threat to Ontario’s economic recovery

Residential  •  Daily Commercial News  •  Toronto Star  •  Globe and Mail (Sub. required)

OP-ED: High Ontario prices are causing an exodus of talent as people look for more affordable living conditions. With immigration expected to top 400,000 individuals for the next several years, the situation shows no signs of abating.

61% of Edmonton homebuyers say office space key feature

Residential  •  Edmonton Journal

Laura Bruno, CEO for the Canadian Home Builders’ Association — Edmonton Region, said 61 per cent of Edmonton homebuyers consider a home office a “must-have” or a feature they “really want.”