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Miller Thomson leases 4 upper floors in T.O.'s Scotia Plaza
Miller Thomson leases 4 upper floors in T.O.'s Scotia Plaza
Miller Thomson LLP is moving on up. The national business law firm has renewed its lease in downtown Toronto’s Scotia Plaza at 40 King St. W. for 15 years – but it is moving higher within the building's uppermost floors.
Carbon tax hikes mean tough decisions for office owners
Canada's carbon tax could force some office owners to sell assets rather than undertake costly retrofits that could affect the financial viability of their buildings.
Toronto office tenants negotiating best deals in years
Downtown Toronto’s office hub has become a tenant’s market, as more businesses try to get rid of space, pushing the real cost of rent down even as published rents appear to be holding up.
Tribute acquires Greybrook's Hamilton land for $112.5M
Tribute Communities is entering the Hamilton housing market with the purchase of an interest in two parcels of development land totalling 151.85 acres from Greybrook for $112.5 million.
Caisse sells $700M worth of Couche-Tard shares
As part of a rebalancing of its stock market portfolio, the Caisse de depot et placement du Québec is selling $700 million worth of shares in Alimentation Couche-Tard (ATD-T). Caisse, Couche-Tard's largest shareholder, reduced its stake to 4.3% from 5.4%.
Fitzrovia proposes 47-, 49-storey mixed-use towers
Fitzrovia Real Estate has proposed 47- and 49-storey mixed-use towers for an infill development at 191-201 Sherbourne St. in downtown Toronto. The PARTISANS-designed project would comprise 1,459 purpose-built rental units in addition to retail and community spaces.
Lion opens 900,000-sq.-ft. commercial vehicle EV facility
The Lion Electric Company has officially opened its 900,000-square-foot Joliet, Ill., facility, the largest location in the U.S. dedicated to the production of all-electric medium- and heavy-duty commercial vehicles.
Canada-first hydrogen housing project set for Alta.
An intriguing development in energy is finally poised to get underway in the Edmonton region after Strathcona County recently approved Qualico Communities' and ATCO's Bremner, a new residential community with up to 85,000 residents and to be fuelled by hydrogen.
Reliance JV renames $1.2B B.C. project The Beachlands
Reliance Properties and Seacliff Properties' 134-acre seaside Royal Beach development in Greater Victoria has been rechristened The Beachlands. The $1.2-billion development will be a collection of neighbourhoods totalling 2,850 homes, plus commercial buildings and retail spaces.
Bosa's B.C. Tesla centre receives second reading
Bosa Properties is seeking approval for a 60,000-square-foot service centre and delivery facility in Port Coquitlam, but Tesla is unwilling to install public charging stations. Even so, council-in-committee gave second reading to the proposal to rezone the property.
Business owners aim to upgrade Richmond mall
The newly elected strata council is working with other business owners to upgrade the 25-year-old three-storey Pacific Plaza to give it a new look and put it back on the Richmond map.
Vancouver retail seeing lower vacancies, rising rents
Despite a storm of challenges, Metro Vancouver retailers are resilient and are starting to see silver linings in the clouds, according to Colliers' Retail Thriving Amidst Change: Greater Vancouver Retail Report Spring / Summer 2023 report.
Banks warn crackdown would reduce CRE lending
U.S. bank regulators have proposed stricter capital requirements on banks. “The large increases in capital standards will likely stunt macroeconomic growth and reduce banks’ participation as single-family and commercial/multifamily lenders, servicers,” Mortgage Bankers Association CEO Bob Broeksmit said.
Vornado sells Manhattan retail assets for $124.4M
Vornado Realty Trust has entered into an agreement to sell four downtown Manhattan retail buildings, encompassing 123,000 square feet. The company also sold a fifth retail asset as part of a second deal. The combined price is $124.4 million.
Investments in nontraded U.S. REITs up 39%
Fund-raising shot back up in June for nontraded REITs after a moribund start to 2023, but the money raised was still far less than investors pulled out of the alternative investment vehicles, according to Robert A. Stanger & Co.
Houston sees U.S. largest co-working space growth
Houston’s co-working market saw the nation's most robust growth in the second quarter, bringing the city to seventh place among the top 25 markets based on the number of flex workspaces, according to a report from CoworkingCafe.
ANALYSIS: Boom time for ranch properties
Former rancher Rudy Nielsen, at one time the largest individual property owner in B.C., continues to sell ranch land and run a real estate analysis company LandQuest Realty Corp. after five decades in the business.
Cities make rules to prevent promised housing
EDITORIAL: Victoria approved a citywide overhaul of its restrictive zoning to get more housing built. And, then, nothing happened. Vancouver is poised to overhaul its restrictive zoning to get more housing built – and city planners predict very little will happen.
Feds should use policy tools to help build more homes: BILD
The Bank of Canada hiked interest rates again earlier this month, just days before Statistics Canada reported the inflation rate fell to 2.8% in June. The federal government should use the tools at its disposal to help counteract these forces.
Foreign homebuyer ban hampers T.O. luxury sales
Canada’s foreign homebuyer ban is discouraging non-Canadian athletes and executives from investing in the country, which is one reason for the current sluggish pace of luxury home sales in Toronto, according to Engel & Völkers Canada.
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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