Recent Articles
Medical clinic centrepiece of Manitoba complex
Medical clinic centrepiece of Manitoba complex
A new business park in Selkirk, 35 kilometres east of Winnipeg, has landed an ambitious, multi-phase development that will include a medical clinic, a health-and-wellness complex, a transitional-care facility, a commercial/retail complex and a restaurant plaza. Selkirk’s Herbsman Inc. is developing the Easton Place Medical Centre on 16.5 acres within the city of Selkirk’s new business park.
Land sales, condos could fund Northlands: Councillor
Land sales or 99-year lease agreements for residential condos at the south end of the Northlands campus could help fund its ambitious redevelopment scheme, says Edmonton City Coun. Tony Caterina. Northlands Vision 2020, set to be presented to council Tuesday, identifies the southwest corner of the 64-hectare site as a prime location for residential development, said Caterina.
Edmonton Journal – Global News – Edmonton Journal
C&W Canada CEO has a growth mandate
Newly appointed Cushman & Wakefield Canada chief executive Chuck Scott has no doubt about his role with the Toronto-based real estate services firm. “The mandate is pretty clear, it is to grow the company,” he said. “We are in this really perfect time here at Cushman & Wakefield in so far as we have got a lot of momentum that we have created coming off a record year across the country and pretty much all the markets and service lines.”
Allied REIT reviews acquisition strategy, buys office
Allied Properties Real Estate Investment Trust’s (AP.UN-T) latest office acquisition in Toronto’s Liberty Village fits its strategy perfectly and kicks off what president and chief executive officer Michael Emory expects to be an active year. “We’ve always had a position in Liberty Village and thought this was a very good opportunity to add to that position in a way that would give us good yield going in and a good intensification opportunity going forward,” Emory said.
Slate REITs target smaller markets
Investors looking for non-residential real estate assets in large secondary markets are paying close attention to a pair of trusts behind Slate Asset Management LP. Slate Retail REIT (SRT.UN-T) invests in, owns and operates 66 properties, mostly in smaller U.S. cities. Slate Office REIT (SOT.UN-T) is focused on “non-trophy” downtown and suburban office space in Canada.
Globe and Mail – Property Biz Canada
Reimagining Winnipeg a bold vision
While Winnipeg’s core does not match the density and buzz of larger cities, it has many of the qualities I find, and crave, in other downtowns. And some features other cities do not have. I love the architecture, the design of its streets and the natural balance of the two great intersections of downtown Winnipeg.
Marriott vows Starwood buy will stand
Marriott International Inc (MAR-Q) expressed confidence Monday its acquisition of Starwood Hotels & Resorts Worldwide Inc (HOT-N) would go through as planned, despite a richer counter-offer from a consortium led by Anbang Insurance Group Co. Marriott and Starwood had announced a stock-and-cash merger agreement in November valued at $16.2 billion Cdn.
Globest.com – Ottawa Business Journal – Reuters – Bloomberg
Going against the grain works for Wesgroup
Most developers take the same approach to mixed-use developments – build the residential and the new homeowners will bring in the retail. Vancouver-based developer Wesgroup decided to take the opposite approach – with much risk – and it worked.
Millennials fleeing Vancouver hurt tech sector
Kevin Oke had a Vancouver millennial’s dream job, working as lead designer at a video-game company whose clients included Atari and Ubisoft Entertainment SA, but he still couldn’t afford a house. So he left his native city and moved to Victoria in 2014. Oke, now 33, is part of the millennial retreat from a city where housing prices have skyrocketed.
Hyperloop promises near-supersonic speeds
It’s not a plane. It’s not a train. It’s a Toronto company’s vision of sending you through a tube at almost supersonic speeds. The promise is to get Canadians from Toronto to Montreal in less than half an hour The technology is called Hyperloop, and the idea has been around since 2012, when billionaire inventor Elon Musk first proposed it.
Canadian retailers failing to adapt
In fashion, you’re only as good as your last season. But now, you also have to be fast and adaptable, something retailers like Danier Leather, Laura, Smart Set and Jacob haven’t been able to do. In Canada, many retailers had a “great thing going for years,” according to Farla Efros, the president of HRC Advisory.
CBC News – National Real Estate Investor
Development site for sale in downtown Edmonton |
The City of Edmonton is inviting applications to purchase a prominent high density mixed-use development site, comprising 0.84 acres of developable land, located at the intersection of Jasper Avenue and 95 Street. Open for offers until 4pm, March 23, 2016.
Detailed information package is available at: www.edmonton.ca/propertysales Phone: 780-496-6000 |
Aldo’s reboot keys on overhauling sales strategy
It was an unprecedented day for footwear retailer Aldo Group Inc. On Dec. 10, the global shoe giant hut down its head office in Montreal for the day. Its new CEO, Patrik Frisk, instructed Aldo’s HQ employees to go back to their desks and draw up their 2016 goals for the company, in what he called GPS Day: Goal Planning Strategy Day.
Edmonton pawn shops booming as economy tumbles
If Edmonton pawn shops are any sign of the economy, things are bad and may be getting worse. “I’ve been in the business almost 20 years and I’ve never seen it this bad. It’s been rough for people,” said John McQuarrie, manager of West End Exchange.
Sale price for Esso stations surprised analysts
VIDEO: Imperial Oil (IMO-T) received $2.8 billion for 497 gas stations last week, four times what analysts had predicted. Geoffrey Morgan explains what this might mean for other companies with gas station assets.
Hines-Goldman Sachs snag parcel for proposed SF tower
A joint venture of Hines affiliate Urban Pacific Development, LLC and Goldman Sachs affiliate Broad Street Principal Investments, LLC was selected by the Transbay Joint Powers Authority (TJPA) to acquire Parcel F, the last development site in San Francisco zoned for a building height taller than 550 feet. The purchase price was $160 million US.
CoStar Group – Commercial Property Executive
Featured Column
Retail Investment GTA Activity (2006-2015)
The total volume in square feet of retail properties sold in the GTA since 2006 has fluctuated from lows of 2.3 million square feet in 2009 and in 2012 to a high of 7.1 million square feet in 2011.
Market Trends and Research
Canadian Metropolitan Outlook: Winter 2016 | |
The Conference Board of Canada publishes a quarterly overview of the outlook for the economies of metropolitan centres in Canada. It provides a national overview and individual city reports, as summarized in this RENX chart.
Conference Board of Canada: Metropolitan Outlook Chart: Winter 2016 |
Real Estate Companies
Egyptian developers demand increase of joint projects
A number of real estate developers urged the Egyptian government to put forth a programme to activate partnership with the private sector, through which the developers could inject their liquidity in development projects and get required lands. Several officials in the sector highlighted the importance of promoting the North Coast area and attracting investors.
REOC Financial Reports
Real Estate Investment Trusts
Insiders buying at H&R REIT
Today, INK Research revisits H&R REIT (HR.UN-T). While the unit price remains below its 200-day moving average, it is trading above its 20-day and 50-day moving averages and is up more than eight per cent during the past 30 days as of midweek. During the rally, four insiders have spent nearly $1.5 million buying units.
Greenland to list REIT in Singapore
Chinese property developer Greenland Group said Friday its unit plans to set up and list a REIT backed by hotel assets in China on the main board of the Singapore Exchange. The REIT, to be set up by Greenland Holdings and investment firm Amare, will purchase 19 hotel properties from Greenland for $4.27 billion Cdn, it said.
Retail
Apollo Global to buy Fresh Market
Specialty grocery retailer Fresh Market Inc (TFM-Q) said Monday it agreed to be acquired by private equity firm Apollo Global Management LLC (APO-N) for about $1.81 billion Cdn in cash. Specialty retailers such as Fresh Market have been struggling against Wal-Mart Stores Inc (WMT-N), Kroger Co (KR-N) and Whole Foods Market Inc (WFM-Q).
New Development
Nor-Built recreating ‘old America’
Recreating the warm feel of small-town main street is behind the throwback design of a new residential/commercial complex in Amherstburg. The concept drawings depict a retro-style facade with retail space on the ground floor and residential apartments above. Builder Norbert Bolger, of Nor-Built Construction, refers to the design as “old America.”
Renovation and Restoration
NCC to streamline sesquicentennial reconstruction
The National Capital Commission will separate the rebuilding of a heritage site from upgrades to the neighbouring block of Sussex Drive to ensure what it considers an integral part of its contribution to Canada’s sesquicentennial celebration is ready on time. Initial design drawings depicting a “glass box” by architect Anthony Leaning were shot down by Ottawans.
Infrastructure
Giant canopy part of Atlanta airport expansion
Officials in Atlanta are laying the groundwork for an expansion of the world’s busiest airport. Hartsfield-Jackson Atlanta International Airport officials unveiled details Thursday for a $6-billion expansion and renovation project. Airport general manager Miguel Southwell said plans include a giant, translucent canopy that will cover the streets and sidewalks outside the main terminal.
Winnipeg Free Press – Atlanta Magazine
Technology
Face-reading tech could make shopping more convenient
As you cruise through a shopping mall, you know you’re being filmed by security cameras keeping an eye out for shoplifters. Software like Eyeris’ Emovu, NEC’s Neoface or Eyesee also lets retailers determine your gender, race and approximate age, where and how long you looked at different displays and whether you were smiling or frowning at the time.
Other
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