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Waterloo Region CRE market hot on all fronts
Waterloo Region CRE market hot on all fronts
Waterloo Region is experiencing an unprecedented building boom for a wide range of reasons, according to Karl Innanen, Colliers Canada’s managing director for the region. “It’s a very diverse economy that’s growing quickly. A lot of that is owing to a low cost of living relative to the Greater Toronto Area. Layered on top of that, technology companies are getting huge headlines . . .”
Brookfield sweetens bid to take over U.S. mall owner GGP
Brookfield Property Partners has added about US$2 billion to its offer to purchase GGP Inc., and says it now has a definitive agreement to acquire all outstanding shares of the U.S. mall owner which it does not currently owne. The new offer raises the cash portion of the transaction from $7.4 billion when Brookfield made its initial offer for GGP in November, to $9.25 billion.
New ‘green’ neighbourhood at Montreal’s Technôpole Angus
An area of east-end Montreal that once housed a major Canadian Pacific Railway repair shop will soon be home to a green neighbourhood and an additional $250 million worth of development. The Technopôle Angus green neighbourhood will 895,000 square feet worth of housing, office space, retail space and green spaces.
Nexus to buy three Western Canada industrial properties
Nexus Real Estate Investment Trust has conditional agreements to acquire two industrial properties in Richmond, B.C., and a third in Regina, Sask., for $64 million. The REIT also announced the sale of two non-core properties in Kelowna, B.C., and Yellowknife, NWT for $11.3 million. A portion of the purchases will be paid via $22.7 million in Nexus shares issued to the vendors, at a premium price of $2.10 per unit.
Vancouver’s SPUD, Wal-Mart team up in sustainability pitch
One of Canada’s lowest-waste grocers is teaming up with the world’s largest retailer in an initiative they claim will further slash food waste in Metro Vancouver. Wal-Mart will start using Vancouver-based Sustainable Produce Urban Delivery’s (SPUD) Food-X Urban Delivery program to deliver groceries to homes around Metro Vancouver.
Six months ago: Allied, Westbank to develop Toronto’s 19 Duncan
Allied Properties REIT has had a busy couple of days, announcing a major Toronto joint venture with Westbank will proceed, while adding a key downtown property to its portfolio. First, Allied and Westbank announced they are moving forward with the development of a mixed-use downtown property at 19 Duncan St. after revising their plans earlier this year…
One year ago: Renaissance for Riocan’s Yonge Eglinton Centre
RioCan Real Estate Investment Trust’s 2015 expansion and renovation of midtown Toronto’s Yonge Eglinton Centre is still paying dividends.The office component of the mixed-use centre includes 754,068 square feet of space in two towers. An unnamed investment grade tenant has expanded its lease to occupy a total of 80,600 square feet on five floors of the two buildings.
| Property Biz Canada, Thursday, March 22, 2018 |
| Concert acquires prime Toronto development site Property Biz Canada, March 22, 2018 |
| OPG sells Lakeview generating site to development group Property Biz Canada, March 22, 2018 |
| B.C.’s CRE sales unlikely to top record 2017: AY Property Biz Canada, March 22, 2018 |
| Partners REIT puts 11 Western Canada properties up for sale Property Biz Canada, March 22, 2018 |
| Conflux Canada pushes sustainability, green buildings agenda Sustainable Biz Canada, March 22, 2018 |
| Downtown Saskatoon arena to replace SaskTel Centre? Property Biz Canada, March 22, 2018 |
| M+H Properties buys plazas, strives to become REIT Property Biz Canada, March 19, 2018 |
| Six months ago: Suburban Toronto offices attract new-economy tenants Property Biz Canada, March 22, 2018 |
| One year ago: C & W acquires Ashlar Urban Realty Property Biz Canada, March 22, 2018 |
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