Industrial development flocks to Manitoba’s CentrePort

RENX  Commercial  •  Industrial  •  Winnipeg

Like many Canadian industrial markets, the sector in the Winnipeg area has remained strong through the COVID-19 pandemic and the unique CentrePort Canada project, North America’s largest trimodal inland port, continues to grow with speculative development.

Ottawa green-lights plan for 27-storey tower

Residential  •  Ottawa Business Journal

Jadco Group‘s plan to demolish the interior and rear wall of the six-storey Medical Arts Building and incorporate the remaining facades into a 27-storey tower with 307 residential units and 188 underground parking spaces got the go-ahead from Ottawa city council.

T.O. firms drop plans to sublease office space

Commercial  •  Globe and Mail (Sub. required)  •  Globe and Mail  •  Financial Post

TMX Group, Intelex Technologies Inc. and other companies trying to get rid of their downtown Toronto office space are reversing course, anticipating more of their employees will return to the workplace after more than a year at home.

Longer lease terms a sign of rebounding confidence in Canada’s office market?

Bill Argeropoulos: Bill Argeropoulos, Principal & Practice Leader, Research (Canada)

RENX vacation week June 28-July 2

RENX  Residential, Commercial  •  Human Resources  •  National

TO OUR VALUED READERS: The staff at RENX will be taking a break for our annual Canada Day holiday week from June 28 to July 2.

$29B hyperloop has economic value for Alta.: TransPod

Commercial  •  Calgary Herald

It would cost about $29 billion to build and launch, but a 1,000-km/h first-of-its-kind tube transport system linking Edmonton and Calgary would make economic sense, says  Sebastien Gendron, CEO of prospective developer TransPod, based in Toronto.

Novartis move hopeful start to Mtl. hub creation

Commercial  •  Les Affaires  •  RENX

The move of Novartis Canada’s head office to downtown Montreal is wonderful news for life science players such as Amplitude co-founder Jean-François Pariseau who dream of the emergence of a hub in the heart of the metropolis.

Royalmount project is simply a bad idea: OPINION

Residential, Commercial  •  Montreal Gazette

Even if Carbonleo’s Royalmount mega-project  in Montreal is now being billed as “a true, 100 per cent pedestrian eco-innovative neighbourhood,” building 3,250 condos in a busy industrial park next to a major highway junction is still a terrible idea.

Downtown Montreal retail ready for rebound

Commercial  •  Retail Insider  •  Montreal Gazette

Manon Larose, senior vice-president, Retail with JLL, said Montreal’s retail stakeholders are geared up for a post-pandemic comeback. “The honeymoon of working from home is over and people want to come back to a real life as quickly as possible.”

Tech sector set to smash venture capital records

Commercial  •  Globe and Mail (Sub. required)

Canada’s burgeoning technology sector is poised to break venture capital funding records for the second consecutive quarter and is on track to surpass the all-time high for a single year, set during the dot-com bubble a generation ago.

WhereiPark acquires app pioneer MonkeyParking

Commercial  •  Business Wire

Toronto’s WhereiPark, a technology solutions provider that empowers property owners to create new revenue sources through unused parking spaces, has acquired San Francisco-based MonkeyParking, which allows property owners to monetize unused spaces by making them available through its app.

Real estate podcasts

Residential, Commercial  • 

Chuck Scott, Cushman & Wakefield: The evolution of brokerage, CRE Podcast
John Wall, Public: Architecture + Communication: Vienna House, The Construction Record – Episode 124
Darren Cash, Turner & Townsend: Construction cost volatility, CRE Podcast

BGO invests $475M in U.S. logistics JV with Xebec

Commercial  •  CP Executive  •  RENX

BentallGreenOak continues expanding its U.S. logistics holdings by committing $475 million of equity in an industrial and logistics real estate partnership with Xebec, a privately held Dallas-based real estate development and investment management platform.

U.S. multifamily prices growing faster than industrial

Residential, Commercial  •  Bisnow

U.S. apartment buildings rose in price by 1.2 per cent from April to May, which amounted to 10.1% higher than their average price last May, according to Real Capital Analytics‘ monthly Commercial Property Price Index.

First new Las Vegas Strip resort in over a decade opens

Commercial  •  PR Newswire

Resorts World Las Vegas, the first resort built on the Las Vegas Strip in more than a decade, officially opened on Thursday, offering 3,500 guest rooms and suites from the Conrad Hotels & Resorts, LXR Hotels & Resorts locations and Hilton Hotels & Resorts.

Many feared dead after Florida condo collapses

Residential  •  Toronto Star  •  ABC  •  Independent

About 160 people were still unaccounted for Friday a day after an oceanside condominium building in Surfside, Fla., collapsed into a pile of rubble and searchers feared the death toll of at least four could go much higher.

Harbour Equity closes first four fund investments

Residential  •  Canada Newswire

Harbour Equity Capital Corp. has successfully closed the first four residential investments, with a fifth expected to close in early July, in Harbour Equity JV Development Fund , an $88.95 million private placement offering that closed earlier this year.

Single-family home sales without legal protection skyrocket

Residential  •  Toronto Star

Selling a home without legal warranty, which was once an exceptional case, has become standard practice, market analysis firm JLR said Tuesday. In the first five months of 2021, one in three home sales did not include the legal warranty,

Altree proposes 10-storey condo near Glencairn station

Residential  •  Urban Toronto

Altree Developments has proposed a 10-storey condominium development at 412 Marlee Ave., near the Glencairn subway station. The Graziani + Corazza Architects-designed building would include 190 condos and three rental replacement units in a mix of 15 studios, 94 one-bedrooms, 63 two-bedrooms and 18 three-bedroom units.

Block’s proposal doubles number of apt. units

Residential  •  Urban Toronto

Block Developments has submitted a revised rezoning application to double the number of proposed dwelling units – from 30 to 60 – for The Stockton, a five-storey apartment building at 406 Keele St. in Toronto’s Junction neighbourhood.