JLL to take over Ivanhoé’s Canadian retail portfolio

RENX  Commercial  •  Retail  •  National, International

Ivanhoé Cambridge has found a new partner for its Canadian retail operations, announcing this morning JLL will take over the operations of the retail portfolio in what the firms call an “agreement to operate retail assets through a unified approach”.

Concert to launch 50-storey condo at Heart of Burquitlam

RENX  Residential  •  Apartments, Condominiums  •  Metro Vancouver

The final phase of Concert Properties‘ master-planned, two-tower Heart of Burquitlam housing and community centre development involving the YMCA of Greater Vancouver and the City of Coquitlam is about to launch.

Pandemic accelerates $5B Oakridge Centre overhaul

Commercial  •  Business In Vancouver

Back in 2019, the plan for the first phase of $5 billion, 5,500,000-square-foot mixed-use project to redevelop Oakridge Centre was to build half the project. The COVID-19 pandemic changed all that. “We effectively made Phase 1 a lot bigger,” said Westbank‘s Rhiannon Mabberley.

The People Space › People Space: Rayburn to retire, new faces at CPP, IMCO, Slate…

Don Wilcox: Managing Editor

Vesta’s Langley project will include two res. towers

Residential  •  urbanYVR

Latimer Heights, Vesta Properties’ massive, $2 billion development in Langley, will include the township’s first two high-rise condo towers of 26 and 34 storeys, respectively, with 486 units. The development also includes over 100,000 square feet of office space and 36,000 square feet of retail.

Madison Group proposes 43-, 46-storey res. towers

Residential, Commercial  •  Urban Toronto

The Madison Group has resubmitted applications for BDP Quadrangle-designed 43- and 46-storey residential towers atop a six-storey mixed-use podium on a 56,000-square-foot site in Midtown Toronto. The two towers would have a combined 845 residential units including 338 two-bedrooms and 91 three-bedrooms.

Sponsored by Trez Capital Trez Capital launching Build-to-Hold strategy fund to fulfill investor demand

Trez Capital is a multibillion-dollar lender that contributes to investors’ financial success by providing a source of stable income through custom real estate financings, with approximately $4 billion in assets under management (including mortgages, loans and equity investments).

The District at Beltline renovation nearly complete

Commercial  •  Calgary Herald  •  RENX

A year ago, San Francisco-based Spear Street Capital announced it would revamp the ground-floor spaces of Calgary’s IBM Campus which it renamed The District at Beltline. The Kasian Architecture-designed renovation of the three mid-rise office buildings is nearly complete.

Pearson first airport to launch e-commerce platform

Commercial  •  Canada Newswire

Toronto Pearson launched The Shops at Pearson, marking the first time a Canadian airport has developed an online retail store that brings the travel shopping experience into people’s homes. Products are available for delivery in Ontario.

New Toys “R” Us Canada owner plans to expand

Commercial  •  Toronto Star  •  Business In Vancouver

New stores, new toys and a list of 100 ideas to grow the company. That’s what Doug Putman has in mind for Toys “R” Us and Babies “R” Us Canada once he finalizes a deal to acquire the retailer’s 81 locations.

Best Buy raises its annual sales forecast

Commercial  •  Globe and Mail

Electronics retailer Best Buy Co Inc. (BBY-N) raised its full-year comparable sales forecast as it expects resilient demand for work-from-home computer equipment despite market fears of growth shrinking after a pandemic-induced spike last year.

CF Delivery now available at CF Sherway Gardens

Commercial  •  Canada Newswire

CF Delivery is now available at CF Sherway Gardens with expansions planned for Vancouver and Montreal. Through a partnership with Swyft, CF mall retailers can take advantage of preferred shipping rates and a centralized environment to complement existing omni-channel logistics.

Triumph Fund I sells Phoenix mall for $6.6M

Commercial  •  Globe Newswire

Calgary-based Triumph Real Estate Investment Fund I announced the sale of a Metro Phoenix shopping centre Triumph Glendale Northwest for $6.6 million. The 16,706-square-foot retail centre, which was purchased by Triumph in 2018, was 100% leased at the time of the sale.

Is splitting HBC in two the right decision?

Commercial  •  Toronto Star

OPINION: Richard Baker, who led a U.S. investor syndicate that bought HBC in 2008, has previously botched a European expansion campaign and abandoned a retail conglomerate strategy, selling retailers Lord & Taylor and Gilt Groupe and closing Home Outfitters.

Walmart debuts business delivery service in U.S.

Commercial  •  Bloomberg  •  La Presse

Walmart Inc. will start delivering goods for other companies, a bet its logistics prowess will let the world’s largest retailer broaden its business. Walmart GoLocal, will offer merchants ranging from local bakeries to national auto-supply stores deliveries across the U.S

Historic Manhattan building gets $100M makeover

Commercial  •  CP Executive

Construction has begun on a $100 million redevelopment project at 122 Fifth Ave., a landmark building in Manhattan’s Union Square, which will modernize the 10-storey tower with 300,000 square feet of office space and two levels of retail.

Wealthy avoid commitment by renting condos

Residential  •  Canada.com  •  Daily Commercial News

From a distance, DBS Developments‘ 2Fifteen construction site resembles that of any high-rise condo project in Toronto. However, a closer inspection reveals a key difference. Atop the hoardings, a newly installed banner announces “luxury rentals.”

Rural Manitoba attempts to lure homebuyers with $10 lots

Residential  •  CTV  •  Winnipeg Sun

With the rise of remote work and record-setting real estate sales, some Manitoba communities are trying to entice people to leave the city lights. A penny per square foot or a $10 lot are just two real estate bargains.

What’s next for Canada’s 30-year housing bull market?

Residential  •  Financial Post  •  Globe and Mail

VIDEO: Steve Saretsky, a Vancouver realtor, speaks with the Financial Post’s Larysa Harapyn about speculation, bidding wars and the federal election’s impact on the housing market.

Sienna awarding $3M in shares to employees

Residential  •  Globe and Mail (Sub. required)

One of Canada’s largest retirement home operators, Sienna Senior Living Inc. (SIA-T), is awarding $3 million in shares to its 13,000 employees to recognize their work in COVID-19 pandemic and foster a sense of ownership in the company.