Summit buys industrial properties, land in Guelph

RENX  Commercial  •  Land, Industrial  •  Ontario

Summit Industrial Income REIT (SMU-UN-T) is making a major acquisition of both properties and development land in a growing industrial area in Guelph, just west of Toronto. The investments comprise up to 1.2 million square feet of existing and future space.

Sidewalk Labs’ Sirefman updates Toronto plans

RENX  Commercial  •  Technology, Investment  •  Toronto / GTA

Sidewalk Labs and Waterfront Toronto plan further discussions by the end of October to update a proposed $1.3-billion development for the Quayside and Villers West areas. Sidewalk head of development Josh Sirefman was interviewed Tuesday at the RealTrends conference.

Starlight eyes Toronto asset management company

Commercial  •  Globe and Mail (Sub. required)

Real estate investment manager Starlight Investments is in talks to acquire Barometer Capital Management Inc., a Toronto-based asset management company with more than $1.5 billion in assets, according to several sources familiar with the situation.

WeWork delays $26.5B IPO due to lacklustre interest

Commercial  •  The Guardian  •  Forbes  •  The Real Deal

WeWork has postponed its stock market flotation after receiving a lukewarm response from investors. We Company, had planned to launch an investor roadshow to drum up interest in its $26.5 billion Cdn share value, slashed from an initial valuation of $62 billion.

CRE investment booming in B.C.’s Fraser Valley

Commercial  •  Vancouver Sun  •  Business In Vancouver

Investment figures and new construction projects show the Fraser Valley is on track to becoming the Lower Mainland’s leading industrial hub, according to data presented by Avison Young. In 2018, buyers signed 199 industrial investment deals in the Fraser Valley.

The Saskatchewan Edge › Is a healthy workplace impacting gov’t employee sick days?

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

Canadian medium-sized office markets ranked

Commercial  •  Vancouver Sun

When it comes to Canada’s smaller cities (or markets with fewer than a million residents), which ones are the healthiest, and why? Here are six notable middle-sized office markets ranked from weakest to strongest, courtesy of Colliers International:

Kelowna OKs industrial development’s Phase II

Commercial  •  Castanet  •  Kelowna Capital News

Kelowna city council Monday approved the second phase of PC Urban‘s industrial development, which includes two-storey and three-storey industrial buildings. The three-storey building will include office space on the top floor.

Confusion among Winnipeg planners: Developers

Residential, Commercial  •  CBC

If Winnipeg’s property, planning and development department and the rules it follows were not a smouldering fire already, the controversy over the fate of the old mansion at 514 Wellington Cresc. seems to have added more gas to the blaze.

209 cannabis stores approved in Calgary

Commercial  •  Calgary Herald

Eleven months after recreational pot was legalized, city officials have approved 209 cannabis outlets with no end in sight to their growing number. That’s approaching half the number of liquor stores in Calgary, which numbered about 450 in early 2018.

Regional growth puts pressure on Calgary

Residential, Commercial  •  Calgary Herald

With the population in Calgary and surrounding areas expected to double in the next few decades, city council is questioning how increasingly intense development just outside city borders should be managed.

Savills opens new Calgary office

Commercial  •  Canada Newswire

Savills has launched a new office in Calgary, establishing the global real estate firm’s presence in the local market. Joshua Hamill and Adam Stewart, joining from Cresa, will extend the platform of commercial tenant-focused services and solutions throughout Western Canada.

Cineplex will be Royalmount’s first tenant

Commercial  •  La Presse  •  Canada Newswire  •  RENX

Montreal’s future Royalmount will host the first The Rec Room in Quebec, an entertainment concept created by Cineplex (CGX-T) that describes itself as a “vast area of ​​attractions.” Carbonleo‘s Royalmount megaproject will include restaurants, hotels and a shopping centre.

Château Laurier addition fight heading to court

Commercial  •  CBC

Heritage Ottawa is arguing in a court application filed Monday that the city did not have the legal authority to put staff in the position to approve the Fairmont Château Laurier addition.

U.S. industrial demand continues upward trend

Commercial  •  PR Newswire

Robust demand for space in the industrial market is expected to continue to bolster the U.S. commercial real estate sector over the next few years, according to BBG, a leading national due diligence firm.

Central Park Tower world’s tallest residential building

Residential  •  Canada Newswire

Extell Development Company, a full-service real estate developer of residential, commercial and hospitality properties, announced New York’s Central Park Tower has topped out, which at 1,550 feet, will be the tallest residential building in the world.

Midland’s largest master-planned community underway

Residential  •  Canada Newswire

The Seasons on Little Lake – Midland’s largest master-planned community, announced new home construction has officially started on the site covering approximately 247 acres. The Seasons on Little Lake currently sold 93% of the first two phases of the approximate 1,400 home community.

Landlord’s attempt to bypass B.C. rent cap struck down

Residential  •  CBC

A North Vancouver landlord who attempted to circumvent B.C.’s rent control cap has been forced to change his ways. The landlord’s rental agreements stated rents could be raised annually by the provincial maximum plus an additional seven per cent.

West Vancouver wants power to impose own vacancy tax

Residential  •  CBC

West Vancouver has a large number of foreign homeowners and while these owners are subject to the province’s speculation tax, the city’s mayor wants the municipality to have the power to tax them further.

Toronto-area suburbs facing worst rental affordability

Residential  •  Globe and Mail (Sub. required)

Suburban neighbourhoods around Toronto are facing the worst rental affordability in Canada, with a new national report showing more than 30 per cent of renters in many parts of the Greater Toronto Area spend at least half their income on rent.