Plaza Retail REIT busy buying, selling, building

Plaza Retail REIT busy buying, selling, building

Business is brisk these days at Plaza Retail REIT, which has 23 projects under development or redevelopment and has been active selling and acquiring properties in the past couple of months. Current developments will add about 1.82 million square feet to Plaza’s portfolio. “We’ve got a very full pipeline and it continues to get fuller,” said Plaza’s chief financial officer Floriana Cipollone.

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Available industrial space in Toronto at historic low: NKFD

Strong demand in the warehousing and e-commerce sectors drove industrial space availability to a historic low of 2.7 per cent in the Greater Toronto Area late in 2017, according to a Newmark Knight Frank Devencore quarterly survey. That’s down from 3.4 per cent in the third quarter report in 2016. The Q3 2017 survey, released Tuesday morning, also found the tight market is continuing to push rents higher.

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Calgary builder returns to roots at Edmonton’s Raymond Block

From his office in Calgary Kendal Harazny can watch a live time-lapse web feed of construction on his firm’s six-floor signature development on Whyte Avenue in Edmonton. The Raymond Block, named after a hotel that stood on the site years ago in the historic Strathcona neighbourhood, has a special place in the heart of the Wexford Developments co-founder.

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Unique Montreal Le 1420 condos features indoor farm

A former convent being transformed into luxury condos by Corev Immobilier in the tony Montreal suburb of Outremont will include an indoor, vertical farm. The farm isn’t the only distinctive feature of Le 1420 Boulevard Mont Royal, which has several innovative touches as well as offering purchasers the ability to create a “made-to-measure” condo for themselves.

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Canada must prepare for CRE slowdown: Avison Young

The Canadian commercial real estate market is coming off an unprecedented year, but despite continuing favourable conditions it is late in the cycle and a slowdown is inevitable, says Avison Young’s 2018 forecast. The company’s 2018 North America and Europe Commercial Real Estate Forecast says the Canadian sector has been experiencing healthy, property market fundamentals across all regions and asset classes.

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Major real estate deals thanks to quantitative easing?

When Ottawa experienced the largest commercial real estate deal in its history last fall, one of the insiders noted in a media interview the strategy of many investors right now is to “own very core assets in core markets.” This is a trend that’s bound to continue in 2018 if the first couple of weeks of the new year are any indication.

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Six months ago: DevImco to kick off Solar Uniquartier

Construction is expected to start in August on Devimco’s $1.5 billion mixed-use Solar Uniquartier development on Montreal’s South Shore. The massive project in Brossard will include 2,500 residential units, 500,000 square feet of office space, 500,000 square feet of commercial space, two boutique hotels, sports complex, convention centre and a park of more than 130,000 square feet.

Property Biz Canada

One year ago: Choice Properties to redevelop Golden Mile

Choice Properties Real Estate Investment Trust has unveiled a long-term plan to revitalize and redevelop its Golden Mile Shopping Centre in Toronto. “One of Choice Properties’ main avenues of growth and value creation is to invest in its properties to add value and improve usage,” said vice-president of investor relations and business intelligence Kim Lee.

Property Biz Canada

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