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Reverse logistics growing concern in industrial CRE
Reverse logistics growing concern in industrial CRE
Reverse logistics is a growing concern for retailers and last-mile logistics providers, and the phenomenon is impacting their real estate requirements. The process of receiving and dealing with returns is contributing to already significant demands for light industrial property.
Co-working sector grows, as WeWork woes deepen
Questions swirl about one of the co-working industry’s giants, but one thing is not in doubt; flexible office workspace has exploded across Canada, quadrupling its footprint since 2014. Space grew by 4.6 million square feet during that time, a CBRE report says.
WeWork talks with banks to head off cash crunch
• New York Post • Financial Post • Real Estate Weekly
WeWork is in talks with banks including JPMorgan to arrange financing that could help the office-sharing company stave off a looming cash crunch. The cash infusion could come in the form of either debt, equity or a combination of both.
First Capital proposes 30-storey Ottawa apt. tower
• Ottawa Business Journal • RENX
Toronto-based First Capital Realty is looking to add to the growing wave of intensification near Ottawa’s new Confederation Line with a proposal to build a 30-storey mixed-use high-rise next to Blair Station. First Capital Realty owns the nearby Gloucester Centre.
No Peel Basin REM station would forfeit $100M
The absence of a station on the vacant Canada Lands Company (CLC) land in Peel will cost up to $ 100 million in royalties for the Metropolitan Express Network (REM), says developer Devimco, which is eager to break ground.
Bronfman pitches Montreal baseball stadium
If Montreal’s public consultation office doesn’t sign off on a plan to build a Major League Baseball stadium in Pointe-St-Charles, it would send the message the city isn’t serious about the sport, Stephen Bronfman said Thursday night.
Architect of Montreal’s Olympic Stadium dead at 93
• Montreal Gazette • CBC • Globe and Mail
Roger Taillibert, the architect who designed Montreal’s Olympic Stadium, has died at the age of 93. The renowned French architect also created the Parc des Princes stadium in Paris and the Khalifa Stadium in Qatar.
Lowe’s Canada president retires
Lowe’s Canada (LOW-N) president Sylvain Prud’homme, also responsible for RONA, announced his retirement on Friday. His departure comes as the U.S. giant home renovation is still trying to revive its activities on Canadian soil.
Tenant laws big risk for Vancouver-area developers
When Cressey Development Group‘s Hani Lammam looked recently at buying three houses together in East Vancouver for redevelopment into an apartment building, the first question he had was whether the people living in them were owners or tenants.
Seattle looks to woo spurned Vancouver investors
• Globe and Mail (Sub. required)
American developer Bob Kagan is looking to attract the international buyers who would have previously looked to Vancouver. “There are a lot of international buyers that were buying in Vancouver until they couldn’t really do it anymore . . .”
Court battle ahead for Bing Thom’s former company
Two lawsuits involving a battle over the future of deceased architect Bing Thom’s former company have been filed in B.C. Supreme Court this year. In the latest, Revery Architecture Inc., is taking the famed architect’s widow to court.
Regina owners risk losing property over back taxes
• CBC
The City of Regina is reminding people and businesses that owe property taxes to pay up or risk losing title of their property. The city will send notices to the owners of 533 properties in tax arrears after Oct. 28.
Shopify begins building a team in China
As it embarks on an ambitious global expansion plan, Ottawa-based Shopify has begun building a team in China, hiring an executive to build partnerships in the world’s largest e-commerce market.
KPF-designed CITIC tower is Beijing’s tallest
• Building Design & Construction
Stretching 1,765 feet into the sky, CITIC Tower has become the tallest building in Beijing. The tower draws inspiration from the form of the “zun,” a ritual vessel originating in Bronze Age China.
Lendlease REIT enjoys impressive IPO debut
Lendlease Global Commercial REIT’s stellar IPO debut is yet another testament to the hunger for yield among Asian investors. The REIT started trading on the Singapore bourse Wednesday, surging 6.3 per cent at the open from its offer price.
The wonderful tale of Buffalo’s Silo City
• Globe and Mail (Sub. required)
The wind whips Lake Ontario – on this cool fall day it’s a dark olive colour – into fat, frothy saw-teeth. The few bundled folks walking toward Ireland Park barely notice the monolithic 1920s Canada Malting silos towering over them.
Construction costs have major impact on home prices
The prices of high- and low-rise condominiums have been converging recently in Toronto. Since high-rise condominiums are often smaller, their prices tend to be lower, but the gap has been shrinking primarily because of the increase in high-rise construction costs.
Unaffordability will lead people to consider leaving T.O.
• Toronto Star • International Monetary Fund Blog
A new poll from Forum Research shows a vast majority of Toronto residents consider the city to be unaffordable — and they report spending the highest proportion of their income on rent out of Canada’s major cities.
Toronto property sells for $1.2 million over asking
A Toronto property near Broadview and Danforth Avenues sold for nearly $1.2 million over asking on Wednesday. The four-bedroom house on Playter Boulevard was listed at $2,350,000, but sold for $3,520,000 — nearly a 50 per cent increase.
Edmonton housing prices continue to drop
The average price of residential homes in Edmonton is continuing to fall, dropping to $351,526 on average, a decrease of 6.06 per cent from $374,219 in September 2018, according to new numbers from the Realtors Association of Edmonton.
RENX in Review: Our Top Stories This Week
Most Viewed: ‘Desperate times’: Laval industrial space vacancy plummets
Editor’s Pick: Rapid evolution hits urban industrial real estate
Multiresidential plans: RioCan creates new JVs with Killam, Boardwalk
REIT insights: Cape Group launches Edmonton-area mixed-use development
ICYMI last week: Quadreal plans major redevelopment of Cloverdale Mall
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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