Hullmark invests, develops in key Toronto strongholds

RENX  Residential  •  Office, Apartments, Investment, Retail  •  Toronto / GTA

Two recent acquisitions by Hullmark Developments are the latest examples of the company’s hyper-focus on specific Toronto neighbourhoods and ability to take advantage of market disruptions.

$190M industrial build underway in Fraser Valley

Commercial  •  Western Investor

A major warehouse facility under construction in Surrey could help pave Chinese President Xi Jinping’s Belt and Road Initiative to Canada. The $190-million, 470,000-square-foot JV between a Chinese company and Pollyco Group includes four warehouses and two large exhibition halls.

Builder funds for Van. community amenities dry up

Residential, Commercial  •  Globe and Mail

The hundreds of millions in developer “contributions” the City of Vancouver has relied on to pay for housing, parks and child-care centres has dried up as builders refuse to agree to the same levels of fees in a collapsing market.

Saskatoon’s Baydo Towers on track for $2.3M tax break

Residential  •  Saskatoon StarPhoenix

A massive apartment complex under construction in downtown Saskatoon appears likely to receive a property tax break worth almost $2.3 million over five years. Baydo Development Corp. applied for the tax abatement for its $100-million, 426-unit Baydo Towers project.

Amazon to open delivery station in Cambridge, Ont.

Commercial  •  CTV  •  CBC

In a news release, the City of Cambridge announced massive online retailer Amazon will be opening a new, 136,000-square-foot delivery station at an existing industrial building on Maple Grove Road. The city expects it to open in late 2020.

Smart lockers in demand in era of touchless delivery

Commercial  •  Globe and Mail  •  RENX

The COVID-19 pandemic has had at least one positive effect on Richard Myers’ business. Users of alternawork, his 25,000-square-foot co-working offices in Oakville, can now safely receive and send packages without signatures or other human interaction.

Billionaire investor boosts stakes in RBI, Lowe’s

Commercial  •  Business Insider

Billionaire investor Bill Ackman raised bets on Restaurant Brands International and Lowe’s in Q2, according to a Securities and Exchange Commission filing published Friday. His firm Pershing Square Capital bought more than 10 million more shares of Burger King-parent Restaurant Brands.

Starlight CEO discusses Black Opportunity Fund

Commercial  •  REALtalk: Episode 8

PODCAST: On this episode of REALtalk, Starlight Capital CEO/CIO Dennis Mitchell talks to REALPAC CEO Michael Brooks about being black in commercial real estate in Canada and the new Black Opportunity Fund he has started housed at Toronto Foundation.

Home Depot posts record sales as DIY products surge

Commercial  •  Reuters  •  Canada Newswire

Home Depot Inc. (HD-N) reported its biggest rise in quarterly same-store sales in at least two decades on Tuesday as demand for paint, tools and other home improvement products surged from consumers stuck indoors due to the COVID-19 pandemic.

Walmart beats estimates as online sales nearly double

Commercial  •  Reuters

Walmart Inc. (WMT-N) posted its biggest-ever growth in online sales on Tuesday as shoppers placed orders for everything from electronics and toys to groceries from the safety of their homes amid the COVID-19 pandemic.

Freshii sales beginning to recover

Commercial  •  Toronto Star

Freshii Inc. (FRII-T) says its core lunch business remains in “recovery mode” even though overall company sales have started to recover with the reopening of most of its restaurants that were temporarily closed to help prevent the spread of COVID-19.

REOC second-quarter financial results

Commercial  • 

Fiera Capital Corporation, (FSZ-T), Canada Newswire

Skyline Investments, (SKLN.TA), Globe Newswire

Golf courses were struggling — then the pandemic hit

Commercial  •  Ottawa Citizen

On the May day the Ontario government announced golf courses would reopen, the TPC Toronto at Osprey Valley website crashed due to people looking to book a tee time. Demand has remained strong since at the Caledon, Ont.-based golf club.

Amazon to spend $1.4B expanding office footprint

Commercial  •  Globest.com

Amazon has announced plans to open or significantly expand six tech hubs in Dallas, Detroit, Denver, Manhattan, Phoenix, and San Diego. The investment for the e-commerce giant will total more than $1.4 billion and will create 3,500 new tech and corporate jobs.

Time to reinvent CRE spaces of the future is now

Residential, Commercial  •  Bisnow

CRE brokers and market experts believe the coronavirus has fundamentally shifted the leasing market to unfamiliar territory, and it is time to begin thinking about ways to reposition retail, restaurant, hotel and office properties at risk of losing tenants permanently.

Up to 300 U.S. Pizza Hut locations to close

Commercial  •  CBC

Up to 300 U.S. Pizza Hut restaurants will be closed, most of them dine-in locations not well-suited for carryout and delivery at a time when millions of people are sheltering and eating at home.

Housing markets set multiple records in July

Residential  •  CBC  •  Global News  •  Canada Newswire

Statistics released by the Canadian Real Estate Association (CREA) show national home sales and new listings continued to rebound, with new listings setting a July record while sales posted the highest level of any month in history.

Empty Manhattan apartments at record high

Residential  •  CNBC  •  PR Newswire

The number of empty apartments for rent in Manhattan soared to their highest level in recent history, topping 13,000, as residents fled the city and landlords struggled to find new tenants.

Fintech offers guaranteed price floor

Residential  •  Financial Post

Properly, a technology firm working with CIBC, is making a pandemic-driven pitch: sell your home without having to let prospective buyers roam your corridors by getting a guaranteed price that lets you shop for and move into a new house.

Tiny house takes shape in Windsor backyard

Residential  •  Windsor Star

Public school board trustee Sarah Cipkar’s 430-square-foot, one-bedroom backyard house is among the first to be built since Windsor city council made moves to allow homeowners to add secondary suites and then a third residence onto their properties.