Broadstone buys $735M in B.C., U.S. industrial

Commercial  •  Real Estate Weekly

Rochester, N.Y.-based Broadstone Net Lease has acquired a $735-million US portfolio of 23 industrial assets in B.C. and in 14 U.S. states. The portfolio includes fully leased properties and includes 6.9 million square feet of operational space.

Amazon leases at unique multi-storey warehouse

Commercial  •  GeekWire

Amazon has leased 500,000 square feet in a three-story warehouse developed by Prologis in Seattle’s Georgetown neighbourhood. The vertical warehouse is unique to the U.S., per the Wall Street Journal, where trucks can access multiple levels via ramps.

Summit sells interests in GTA, Montreal data centres

RENX  Commercial  •  Industrial  •  Greater Montreal, Toronto / GTA

Summit Industrial Income REIT has sold interests in two data centres in Montreal and the GTA for $178M and will make a special distribution of a portion of the profits. The sale creates a “significant realized gain of approximately $42M.”

BGO, Oxford, Ivanhoé top N. American GRESB results

RENX  Commercial  •  Investment  •  National

Three major Canadian real estate owners, investors and managers have scored top rankings among North American firms from the 2019 Global Real Estate Sustainability Benchmark (GRESB). BentallGreenOak, Oxford Properties and Ivanhoé Cambridge are no strangers to leadership in the sector.

Canada’s apartment building owners are happy

Residential  •  Vancouver Sun

Canada’s rental apartment building market is the strongest it’s ever been — especially from the perspective of apartment building owners. Buildings are practically full across the country and rental rates are at or near 10-year highs in nearly every market.

In The Condo Know › Ottawa housing market ripe for ‘Starchitectural’ design

Derek Nzeribe: Milborne Group

$67.5M food hub for CF Promenades St-Bruno

Commercial  •  Canada Newswire  •  La Presse

Cadillac Fairview (CF) announced its latest major development at Montreal’s CF Promenades St-Bruno, a $67.5-million market-style food hub that will feature a 35,000 square-foot Avril Supermarché Santé, Saint-Houblon Brewery, restaurants and specialty and artisanal  retailers and producers.

Oxford plans 1M square feet of rooftop solar

Commercial  •  Sustainable Biz Canada

Industrial strata units win converts in Calgary

Commercial  •  Western Investor

Dan Lim, owner of Incredible Florist, is glad he was among those who bought an industrial condo in Calgary’s Core Business Park Burbank. “I thought of all the dollars I had spent leasing over the years,” Lim said.

Downtown Regina lot slashed more than 75%

Commercial  •  CBC

Downtown Regina’s Capital Pointe site just became a little more attainable. The lot was originally listed at $8.5 million. Now, it’s sitting at $2 million, according to the website that houses the listing. The lot is about 31,000 square feet.

Corporate Stays expands to Montreal’s NDG

Commercial  •  Globe Newswire

Corporate Stays announced the opening of its newest Signature Collection building, Le Bijou, located in Montreal’s NDG/CDN neighbourhood. The newly constructed, four-storey building includes 11 units and is available for rent now.

N.S. developer builds with future storms in mind

Residential, Commercial  •  CBC

In the wake of Dorian, the Armour Group‘s Queen’s Marque — a mixed-use development under construction on the Halifax waterfront — has been designed with future storms and rising sea levels in mind.

Three tech CEOs transforming CRE industry

Commercial  •  Forbes  •  PR Newswire

Three companies are revolutionizing the commercial real estate industry through technology: CEO of TapCap – A digital-driven nationwide multifamily lending company; Reonomy – A commercial real estate data company; and Skyline AI – An artificial intelligence asset manager for commercial real estate.

Rebuilding work continues, 18 years after 9/11

Commercial  •  Crain’s New York Business

Over 18 years, the rubble left by the destruction of the World Trade Center has given way to a gleaming new complex of office towers, a museum, a transit hub and a memorial that draws millions of visitors each year.

Toronto lawyer’s heirs own $7B worth of Texas land

Residential, Commercial  •  Financial Post

Back in 1913, when Toronto attorney David Fasken paid US$1.50 an acre for plains outside Midland, Texas the plan, according to lore, was to make a fortune raising cattle. Fasken died 16 years later, unaware of the riches below the surface.

Blackstone raises $20.5B for largest ever RE fund

Commercial  •  Reuters  •  Business Wire

U.S. private equity firm Blackstone Group Inc. (BX-N) said on Wednesday it has raised the largest ever real estate fund, amassing $20.5 billion to be invested in property assets around the world.

Homebuilders are increasingly going to extremes

Residential  •  Financial Post

Condominium sizes in Canada have been shrinking over the years. At the same time, the reverse is true for single-detached (SD) homes, which have been getting bigger. Declining household sizes and evolving suburban lifestyles are both at play.

RE boards call for easier access to home ownership

Residential  •  Globe Newswire  •  Globe Newswire  •  Toronto Star

Real estate associations from Canada’s largest real estate markets are calling on all levels of government to take meaningful action to make home ownership more accessible to people across the country.

Canada ‘a country of renters and condo dwellers’

Residential  •  Globe and Mail (Sub. required)

Economist David Rosenberg finds the number of cranes in Toronto and Vancouver “pretty scary.” Like other analysts, the chief economist at Gluskin Sheff + Associates cited the strength of the residential construction sector after the latest numbers this week.

Calgarians could soon face new Airbnb regulations

Residential  •  CBC

Calgary city councillors are supporting the development of a bylaw to deal with short-term rentals offered through services like Airbnb but the details are still being finalized. Staff estimate that there are nearly 6,000 properties available for short-term rental in Calgary.