Avenue31 plans to build 1.95M sq. ft. of Ottawa industrial

RENX  Commercial  •  Industrial  •  Ottawa

Do your homework, be organized and plan. It’s a straightforward formula that is paying off for Ottawa-based developer Avenue31, which is planning and developing two major industrial and logistics sites (about 1.95 million feet in total) in the city.

Pure plans logistics builds on newly acquired GTA site

RENX  Commercial  •  Industrial  •  Toronto / GTA

Pure Industrial has acquired a 28-acre parcel of land along Hurontario Street in the Greater Toronto Area city of Brampton, where it intends to construct two industrial buildings totalling about 625,000 square feet.

AbCellera to build 130,000-sq.-ft. Vancouver facility

Commercial  •  Business In Vancouver  •  Business Wire

AbCellera (ABCL-Q) announced it has secured a site in Vancouver for the construction of a 130,000-square-foot manufacturing facility for the production of therapeutic antibodies, which will be the first of its kind in Canada.

Industrial sector worried about Royalmount condos

Residential, Commercial  •  La Presse

The addition of thousands of housing units to Carbonleo’s Royalmount project is causing friction in Montreal. Companies in the neighboring industrial park fear cohabitation will be difficult where the risk of ammonia leaks can lead to emergency evacuations.

HBC sells stake in Saks Off 5th e-commerce for $200M

Commercial  •  Globe and Mail (Sub. required)  •  Financial Post

For the second time this year, Hudson’s Bay Co. ULC is selling a stake in the e-commerce arm of one of its department stores, turning Saks Off 5th’s digital operations into a separate business. Insight Partners will pay approximately US$200-million.

Sponsored by Beedie Beedie grows in the GTA with two new industry-leading industrial condos

Founded in 1954, Beedie is one of Western Canada’s largest industrial developers and property owners, having completed more than 30 million square feet of new development since inception.  Beedie made a splash in 2018 and 2019 with 4 land acquisitions . . .

Ground broken on T.O.’s 2.4-acre Indigenous hub

Residential, Commercial  •  Canada Newswire  •  Daily Commercial News  •  Toronto Star

The ground was broken Monday on a 2.4-acre Indigenous hub in Toronto which will include Anishnawbe Health Toronto, the Canary House mixed-use condominium building and a purpose-built rental building by Dream, Dream Impact Trust, Kilmer Group and Tricon Residential.

Edmonton rental complex sells for under $118K per door

Residential  •  Western Investor

Last week, a two-building rental complex in Edmonton with a total of 58 units sold for $6.8 million, or less than $118,000 per door, based on the transaction brokered by the Marcus & Millichap team in Edmonton.

Zibi ‘will be a place at the end of 2021’: Theia

Residential, Commercial  •  Ottawa Business Journal  •  RENX

After years of watching his vision for the 34-acre mixed-use Zibi neighbourhood unfold, Jeff Westeinde, a principal in Theia Partners, sees the next few months as a watershed time for the development that straddles both sides of the Ottawa River.

The Saskatchewan Edge › Vacancy does not equate to desperation

Kelly Macsymic: Business Manager, Stuart Commercial Inc., Sales Associate, ICR Commercial Real Estate

Rising food costs add to the woes of restaurateurs

Commercial  •  Victoria News  •  Ottawa Citizen

Restaurants have been grappling with rising food prices since the start of the COVID-19 pandemic, but for Edmonton restaurateur Blair Lebsack, some of the most shocking increases have been for his restaurant’s less flashy ingredients – such as canola oil.

Summit Industrial, Northwest Healthcare two hot REITs

Residential, Commercial  •  Motley Fool

Summit Industrial REIT (SMU-UN-T) could be an ideal investment to consider due to the rising demand for industrial properties. Northwest Healthcare Properties (NWH-UN-T) is another top REIT to buy in a scorching-hot housing market that has become unaffordable for many.

Winnipeg airport waiting for takeoff

Commercial  •  Winnipeg Free Press

Winnipeg airport officials say a pandemic is being made worse by the feds showing no urgency to restore international flights to smaller cities. “The system we have right now is really favouring four cities . . .” said Winnipeg Airports Authority‘s Tyler MacAfee.

Condor Hospitality Trust puts hotels on the market

Commercial  •  Hotel Business  •  Business Wire

Condor Hospitality Trust, Inc. (CDOR-A), a hotel-focused REIT, announced its board of directors is evaluating strategic alternatives to enhance shareholder value. The company has engaged the firm of Hodges Ward Elliott to market for sale its 15-hotel portfolio.

Total office occupancy 53% in May: WeWork

Commercial  •  MarketWatch  •  Bisnow

Office-sharing company WeWork, which had a spectacular failed IPO attempt in 2019 and is now planning a merger with a special purpose acquisition corporation, said total occupancy stood at 53% as of May, up three percentage points from March.

Blackstone acquires Home Partners of America for $6B

Residential, Commercial  •  Reuters  •  The Real Deal  •  MarketWatch

Blackstone Group (BX-N) on Tuesday agreed to acquire Home Partners of America in a $6-billion deal. Home Partners owns more than 17,000 houses in the U.S. it rents out to tenants who are given an option to buy them eventually.

Investors account for a fifth of Canadian home purchases

Residential  •  Globe and Mail (Sub. required)  •  Globe and Mail

Investors account for one-fifth of all home purchases in Canada, adding more fuel to the debate about their influence on the country’s soaring real estate prices and demand for housing.

Citizen researchers delve into unaffordable Van.

Residential  •  Globe and Mail (Sub. required)

Rohana Rezel is on a mission to shine light on Vancouver’s hidden real-estate market. Rezel is one of a small group of citizen researchers who’ve taken on the task of unearthing the numbers and names behind the housing affordability crisis.

Complaints against Quebec brokers up 20%

Residential  •  La Presse

The real estate overheating has led to a 20 per cent year-over-year increase in complaints to the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) compared to 2020. The OACIQ claims new efforts made in April to protect the public are working.

Demolished home could test Ontario’s heritage rules

Residential  •  Toronto Star

Luxury custom homebuilder Mohammad Kassirian started the demolition on a 1912 Tudor Revival-style home in Toronto’s northern enclave over the May long weekend without a permit and just months after the city council listed the building as a heritage home.