LocationsRecent Articles
Quebec's Top-10 commercial real estate transactions of 2023
Quebec’s Top-10 commercial real estate transactions of 2023
Two huge seniors housing transactions helped buoy the commercial real estate market in Quebec, but transaction volumes in the province are expected to be down up to 40 per cent in 2023 according to data from CBRE Montreal.
Walmart scraps plan for $100M Quebec fulfilment centre
Walmart Canada says it no longer plans to open a new fulfilment centre in the Montreal-area municipality of Vaudreuil-Dorion. The retail giant was due to spend $100 million on the facility, which was expected to open early this year.
Toronto’s top skyscrapers lose their lustre with age
In downtown Toronto, older class-A office buildings now have as much empty space as class-C buildings, as demand for downtown offices has declined and a raft of new class-A skyscrapers have opened.
Downtown Toronto activity at highest level in years
Downtown Toronto appears to finally be bouncing back nearly four years after the onset of COVID, but it could still be a while before the city returns to its former glory, according to the University of Toronto’s School of Cities.
B.C. CRE outlook hinges on interest rates easing
The Bank of Canada’s decision to hold its policy rate steady at five per cent on Dec. 6 meant no immediate relief for commercial real estate investors wrestling with high payments and strategizing around refinancing this year.
High interest rates discouraging Halifax dev.: UDI
Stephen Adams, executive director for the Urban Development Institute of Nova Scotia, says high interest rates have prompted many developers to put money in investments rather than build new housing in the Halifax Regional Municipality.
Redbrick CMO bullish on making sustainable economy
The world is only beginning to tap into the unparalleled opportunities unleashed by the transition to a sustainable, low carbon economy, such as decarbonization and green buildings, according to Vancouver-based Redbrick's chief marketing officer Marco Pimentel.
AI proved its value to constructors in 2023
The rise of AI in construction was a major story of 2023, with the swift adoption of general artificial intelligence, machine learning and ChatGPT tempered by privacy concerns and a seeming inability by many to grasp its potential.
Parkland’s largest shareholder denied board appointment
Parkland Corp. (PKI-T) is in a standoff with its largest shareholder over leadership of the fuel distribution company’s board, a fight analysts say could escalate into a battle for control of the business or a significant share sale.
Expert Canadian retail predictions for 2024
The retail sector in Canada continues to face challenges as it embarks on a new year. Three well-known experts in the industry discuss what 2023 was like for retail in Canada and what we can expect in 2024.
Mary Brown’s Chicken targets significant expansion
St. John’s-headquartered Mary Brown’s Chicken is celebrating its 250th store opening, looking to expand to have 500 locations in Canada and 150 international locations within five years. The plans include two locations at the Toronto Pearson International Airport in 2024.
Gordie Howe Bridge cost spikes to $6.4B, delayed
The Windsor-Detroit Bridge Authority (WDBA) announced the Gordie Howe International Bridge project is delayed 10 months until September 2025. The WDBA also said the projected cost of the project has jumped $600 million to $6.4 billion.
'Cash for keys' offers on the rise in Toronto
Instances of landlords offering cash for tenants to vacate a unit have risen in Toronto as landlords face financial pressures such as higher interest rates, according to Natalie Costello, founder of Natalie Costello Real Estate.
BoC needs to avoid interest rate mistake in 2024: CIBC
Central banks took a lot of flack for being slow to hike interest rates as inflation took off. Now Andrew Grantham, senior economist at CIBC Capital Markets, says they should be wary of mistakes coming down the other side.
Real estate podcasts
Jaime McKenna, Fengate: Building Toronto and rebuilding Canada, CRE Podcast
Scott MacPherson, Cushman & Wakefield: The evolution of RE capital markets, CRE Podcast
Peter Senst, CBRE: Canada’s commercial real estate resilience, CRE Podcast
Brookfield to buy ATC India for US$2.5B
Brookfield Asset Management (BAM-T) will buy American Tower Corp’s (ATC) loss-making Indian operations for $2.5 billion, it said Friday, becoming the country’s largest operator of telecom towers amid booming demand for data and wider use of 5G services.
EdgeCore secures $1.9B for Phoenix data centre campus
Denver-based EdgeCore Digital Infrastructure has obtained $1.9 billion in green financing to fund further development at its Mesa, Ariz., campus, which will have 3.1 million square feet of space and support a minimum of 450 MW of critical load.
Friedman acquires two Detroit office towers
Farmington Hills-based Friedman Real Estate has acquired two of the seven Renaissance Center office towers in downtown Detroit from a New Jersey utility company. One of the towers is full, the other is mostly empty. The sale price wasn't disclosed.
WeWork continues to cut London portfolio
Beleaguered co-working giant WeWork has reached agreements to cut three more of its London locations totalling more than 250,000 square feet as its international division reported a £110M loss.
Industry Events
-
Canada Real Estate Auction
Oct 22 2024
-
Calgary Real Estate Forum
Oct 29 2024
Calgary TELUS Convention Centre
-
MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
Follow us on Social Media
Follow RENX on your favorite social media platform for news delivered to your feed.
Locations
