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B.C. industrial biz again focused on owning space: PC Urban
B.C. industrial biz again focused on owning space: PC Urban
Brent Sawchyn has noticed a familiar trend re-emerge after eight years of developing IntraUrban strata industrial buildings. Sawchyn sees the market leaning back toward owners and occupiers buying more space than investors, and preferring simpler, more conventional spaces.
Leslie to be Skyline Retail president; Driedger to join board
Skyline Retail REIT is about to undergo a change at the top, with Gordon Driedger stepping aside as president, and Craig Leslie accepting a promotion into the role.
Suncor ponders future of 1,800 Petro-Canada stations
Suncor Energy (SU-T) is assessing its 1,800 Petro-Canada gas stations, deciding which to renovate and which to sell, as it picks up steam on a retail strategy to transform 20 per cent of its network by the end of 2026.
CPP real estate falls five per cent
CPP Investments' real estate portfolio suffered a five per cent loss in its last fiscal year as high interest rates and weaker demand for office and retail drove down valuations. CPP sold San Francisco and NYC properties at steep discounts.
Ontario's pace of new home construction slows to 2018 levels
New home construction in Ontario has slowed to a pace not seen since 2018. Economists see no signs of the slowdown reversing in the months to come, creating the potential for a grim 2024.
Trillium to acquire 3 Calgary multiresidential properties
Trillium Acquisition Corp. (TCK-P-X) announced it has entered into an agreement with Bankview1827 Investment Corp., Capitol Hill 1426 Development Corp., and Sunalta 1509 Development Corp., to acquire three multiresidential properties in Calgary for $14,500,000 as the firm's qualifying transaction.
More businesses implementing four-day workweeks: Study
There has been a 34 per cent increase in the number of Canadian businesses implementing four-day schedules in the past year alone, according to recently released data by BrightHR, a human resources software provider.
CIBC offloads US$316M in discounted U.S. office loans
CIBC struck agreements to sell US$316 million of U.S. office loans at a discount. The bank reached deals with multiple buyers for loans backed by eight U.S. offices in cities including San Francisco, Seattle, Phoenix and Austin.
ABB, Zoho strive to make data centres more energy efficient
A lesser-known consequence of the digital revolution is the associated rise in energy consumption required to operate data centres, which currently account for an estimated one per cent to 1.3 per cent of global electricity consumption.
Porter opens Ottawa aircraft hangars, maintenance base
Porter Aviation Holdings Inc., parent company of Porter Airlines, and the Ottawa International Airport Authority (OIAA) announced the grand opening of Porter’s YOW aircraft hangars and maintenance base. The two aircraft hangars are approximately 150,000 square feet in combined size.
Canadian retail recovering quickly
Retail real estate is back with a vengeance. The pre-pandemic rise of e-commerce, followed by the onset of pandemic lockdowns, had many analysts and experts predicting that retail real estate was doomed in Canada.
Small business owners say they can’t fight Amazon
When Gary Kirk opened his bookstore in 2007, he did not anticipate the competition he’d face from the very e-commerce platforms he was using to help keep his business afloat.
Housing crisis fuelling multiresidential boom
More Canadians are turning to the rental market, which has seen a surge in demand for multiresidential properties. However, the construction of new rental units is not keeping pace, resulting in lower vacancy rates and higher rental costs.
Calgary's new planning lead resigns after six weeks
Just over a month after starting in the role, the City of Calgary’s new general manager of planning and development services Tim Keane has resigned. Keane oversaw the record-setting 16-day public hearing on blanket rezoning that began April 22
Kingston’s student housing plans courting controversy
Kingston, Ont., is growing denser in a way that is proving especially controversial: high-rise apartment buildings catering to students. Opponents say the complexes disrupt the balance of central neighbourhoods, bringing loud parties and increased traffic congestion.
Toronto’s waterfront needs an anchor
OPINION: Despite all the great things that are happening down there, Toronto’s long-neglected waterfront still lacks a focal point, a crowd-pleasing attraction that the whole world knows about.
Gordie Howe bridge slated to connect in June
The Windsor-Detroit Bridge Authority, owner of the Gordie Howe International Bridge project between Windsor and Detroit, expects to connect the two sections of the bridge over the Detroit River by the end of June.
$7.4B Texas master-planned development breaks ground
More than one million square feet of speculative industrial space will be part of the first phase of Talise, a $7.4 billion master-planned community that has broken ground in Laredo, Texas.
Developers struggle to meet data centre energy needs
The massive data centre facilities used by tech giants like Amazon Web Services, Microsoft, Google and Meta have begun gobbling up far more energy than ever before, and they are approaching an inflection point.
Office rents on San Fran’s California Street fall 31%
The average asking rent for offices on California Street is $62 per square foot, compared with $90 per square foot in 2020, the San Francisco Standard reported, citing figures from Cushman & Wakefield.
Industry Events
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Quebec City Real Estate Forum
Oct 16 2024
Quebec City Convention Centre
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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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