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Canadian Tire, rooms + space lease 1M sq. ft. of vacant retail
Canadian Tire, rooms + space lease 1M sq. ft. of vacant retail
Two well-known Canadian retailers will be stepping into a million-square-foot hole left by the demise of Bed Bath & Beyond stores in Canada. New chain rooms + space, as well as Canadian Tire (CTC-T) banners will occupy 31 vacant stores.
Cap rates still trend up, transaction activity stays slow: CBRE
While overall transaction activity remains relatively slow, private buyers continued to be more active than institutional investors in the first quarter, according to CBRE’s new Canadian Cap Rates & Investment Insights report.
 | The Industrial Real Estate Show Insights from a CRE brokerage legend, Bob KnakalChad GriffithsPartner, NAI Commercial |
High vacancy rates dim office construction outlook
Despite a 1.6-million-square-foot rise in leasing activity, the office vacancy rate for major urban areas in Canada increased from 15.9% in Q4 2022 to a 30-year high of 16.4% in Q1 2023, according to Cushman Wakefield.
Vancouver's wet lab space shortage hurting life science
Startup companies in Vancouver's life sciences industry are reporting increased difficulty in accessing turnkey wet lab space, which allows them to develop their work through early studies. Without data, companies are unable to attract investors who provide development funding.
BTB acquires Edmonton industrial property for $7.35M
BTB REIT (BTB-UN-T) announced the acquisition of an 83,292-square-foot industrial property in Edmonton's McIntyre Industrial Park currently leased to four tenants. The purchase price was $7.35 million.
Ontario res building permits back at pre-COVID levels
For the first time in three years, Ontario saw the number of residential building permits drop after reaching all-time highs during the COVID-19 pandemic. Last year, 108,080 building permits were issued for new development as well as home improvement.
CDPQ maintains path to green its $402B portfolio
Caisse de dépôt et placement du Québec (CDPQ)’s 2022 sustainable investing efforts featured green investment growth, reduced portfolio carbon intensity and a near-exit from oil that makes it a stand-out figure in the field.
Red Apple announces opening of 3 renovated stores
Red Apple Stores announced the grand opening of three newly renovated stores in Claresholm, Alta., Sparwood, B.C., and Meaford, Ont. The unveiling will take place on Friday, June 2.
K2 Group plans to open at least six Ontario IHOPs
Toronto-based investment firm K2 Group has opened a 4,000-square-foot IHOP location in Belleville and has plans to open at least five additional restaurants in Ontario as part of a non-traditional development agreement with Dine Brands International.
REIT/REOC first-quarter financial results
Brookfield Infrastructure Partners, (BIP-UN-T), Globe Newswire
Dream Industrial REIT, (DIR-UN-T), Business Wire
First Capital REIT, (FCR-UN-T), Canada Newswire
Melcor REIT, (MR-UN-T), Globe Newswire
Morguard Corp., (MRC-T), Canada Newswire
Sun Residential REIT, (SRES-X), Newsfile
Manhattan office leasing falls below 2020's pace
A total of 1.5 million square feet of office leases were signed in April in Manhattan, according to Colliers, marking a nearly 44% year-over-year decrease and a 7.7% drop from March.
Parkit buys remaining 50% stake in Nashville parking asset
Parkit Enterprise Inc. (PKT-X) announced it has completed the acquisition of the remaining 50% interest in Fly Away Airport Parking in Nashville from an arm's length vendor for an aggregate purchase price of $3,550,000 US.
Amazon revenue beats estimates with stable online demand
Amazon.com Inc. (AMZN-Q) reported quarterly sales and profit ahead of expectations, projecting confidence in its cloud business despite a clampdown in customers’ spending and touting how its aggressive cost cuts were starting to pay off.
Airbnb to push rooms as low-cost option to house rentals
Airbnb (ABNB-Q) is making a renewed push into renting single rooms in a nod to its beginnings and a realization that renting an entire house is too expensive for many travellers, especially younger ones.
Biddings wars and high prices lure home sellers
The late-blooming spring real estate market is coming to life in Toronto as sellers become more willing to place a “for sale” sign on the lawn, according to Anita Springate-Renaud, broker with Engel & Völkers.
Toronto home sales jump 27% in April: TRREB
The recovery in Toronto’s housing market gained momentum in April, with sales soaring and home prices climbing for the third consecutive month, as a dearth of properties for sale ramped up competition among buyers, according to TRREB.
Vancouver’s April home sales down 16.5% year-over-year
The Real Estate Board of Greater Vancouver says April home sales slid 16.5 per cent year-over as new listings remained below historical norms. Sales for the month totalled 2,741, almost 16 per cent below the 10-year seasonal average.
B.C. amends 55-plus strata restriction bylaws
British Columbians residing in stratas with 55-plus age restrictions will now be able to have family members - future children, dependents, and spouses or partners - under that age live with them, the province announced Monday.
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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