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Potential west-end Toronto redevelopment site for sale
Potential west-end Toronto redevelopment site for sale
A 0.95-acre commercial property with multi-family redevelopment potential and easy public transit access in Toronto’s west-end Weston neighbourhood is for sale. “The site is, and has been, owned by a private family for many years,” JLL‘s Elliot Medoff said.
Edm. industrial stays hot; 5-building portfolio sold
The recent sale of the five-building, institutionally owned and managed Southside Industrial Portfolio in Edmonton to private investors is another indication of the continued interest and demand for that real estate asset class in Alberta.
Surrey council greenlights light industrial park
• Business In Vancouver • Surrey Now-Leader
Surrey city council has sent proposed amendments to the South Campbell Heights Area Plan to Metro Vancouver for approval before rubber-stamping the conversion of 605 acres of agricultural and rural land to a light industrial-commercial park.
Optimism despite 23% downtown Sask. office vacancy
• Saskatoon StarPhoenix • RENX
Saskatoon’s downtown office vacancy rate rose to nearly one quarter in the spring — but Richard Jankowski, managing director for Colliers in Saskatchewan, said the inflated number stems from the addition of new office space in the towers at River Landing.
Hybrid work models bolster suburban office options
• Western Investor • RENX
Wayne Berger, CEO of IWG PLC’s North America and Latin America division, says the tilt towards suburban offices isn’t going away after nearly a year and a half of workers growing accustomed to the short commutes to their home offices.
Prysmian Group plans $7M Prescott distribution centre
Milan-based Prysmian Group announced a $7-million plan to add a “world-class distribution centre” to its existing manufacturing plant in the Town of Prescott about 95 kilometres south of Ottawa. The company says the project will create about 15 new jobs.
Originate proposes 17-storey mixed-use building
Originate Developments has proposed a 17-storey mixed-use building at 164 Bathurst St. in Toronto. The Kirkor Architects Planners-designed proposal would include 217 condominium units – 18 studios, 96 one-bedrooms, 81 two-bedrooms and 22 three-bedrooms – in addition to retail, 69 parking spaces and 244 bicycle parking spaces.
Ottawa’s plan for ’embassy district’ rankles residents
The National Capital Commission’s revised proposal to plot new embassies on a grassy property in Ottawa’s Mechanicsville neighbourhood continues to draw opposition from the community despite a reduction in the number of planned diplomatic buildings.
Part of Calgary park to give way to mixed-use project
• CBC
Calgary council has voted in favour of selling a portion of Richmond Green park, at Sarcee Road and 33rd Avenue S.W. The land use change will see a mixed-use development built on the current site of two baseball diamonds.
Hot Windsor real estate market fuels brownfields action
Windsor’s Brownfield Redevelopment Community Improvement Plan, created in 2010 to entice investors to build on contaminated ex-industrial sites, has proved popular in the past 18 months driven by attractive incentives and red-hot demand for housing, says planner Greg Atkinson.
Winnipeg, Edmonton airports get millions in federal aid
Following months of pleading from top execs about a dire need for assistance, Winnipeg’s airport is receiving $12.7 million in crucial funding for its pandemic recovery efforts from the federal government.
REIT second-quarter financial results
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Melcor REIT, (MR-UN-T), Globe Newswire
Morguard North American Residential REIT, (MRG-UN-T), Canada Newswire
Morguard REIT, (MRT-UN-T), Canada Newswire
Slate Grocery REIT, (SRT-U-T), Business Wire
Cinven buys stake in Restaurant Brands’ Iberian unit
Buyout fund Cinven has bought a majority stake in Restaurant Brands International’s (QSR-T) unit in the Iberian peninsula, in a deal valuing RB Iberia at $1.48 billion Cdn, the companies said in a joint statement on Wednesday.
GCP raises $2.3 billion for logistics investments
• Bloomberg • CP Executive • Property Funds World
Investment firm GCP said it closed a $2.3-billion fund that will be used to buy and operate warehouses tied to logistics and e-commerce. The investment vehicle is believed the largest ever of its kind for North American logistics assets.
Boston Properties acquires 3 properties for $882M
Boston Properties (BXP-N) is acquiring properties across three different metros in separate transactions, for a combined $881.5 million. The company made its Seattle debut with the purchase of a 50-storey office tower and added assets in New York City and Washington.
Google to require office employees be vaccinated
Alphabet Inc.’s Google is delaying its office return date to Oct. 18 and will require workers coming back to show proof of vaccination, citing concerns about the surge in infections of COVID-19 variants.
B.C. strata council ordered to release list of owners
A B.C. condo owner went to court to force his strata council to hand over a list of names of all other strata lot owners in his development, after the council refused. A civil resolution tribunal member agreed with him.
Canada’s hot housing market has peaked: Economists
Some economists are saying the torrid run of Canada’s housing market has already peaked, and it’s downhill from here. “March seems to have been the absolute peak of the mountain in terms of activity,” writes TD economist Rishi Sondhi.
With the return of open houses, agents tread cautiously
Stella McCollum hasn’t hosted a real estate open house for more than a year during the Coronavirus pandemic, but she saw a rare property in Hamilton as the ideal setting for a return to the weekend afternoon tradition.
Greater Vancouver record broken with $42M private sale
• Global News • Vancouver Sun • CTV
A Greater Vancouver real estate record has been set. Sotheby’s International Realty Canada said the private sale of the Belmont Estate is now the region’s highest single-family residential sale on a single lot. A listing indicates the asking price was $58,000,000.
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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