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Shopify to become anchor tenant at The Well Tower
Shopify to become anchor tenant at The Well Tower
E-commerce software giant Shopify will more than triple the office space it leases from Allied Properties REIT and RioCan REIT in Toronto, agreeing to occupy nearly 434,000 square feet at The Well Tower. The announcement means Shopify will lease almost 600,000 square feet from Allied and RioCan in The Well Tower and at the trusts’ King Portland Centre.
Seeking a real estate agent? Nobul has an app for that
Nobul Corporation founder, chief executive officer and chairman Regan McGee has grand plans for his online marketplace which connects real estate agents with homebuyers and sellers. “There’s a full transparency that the public and regulators have been demanding for decades,” said McGee.
Been away? Here’s a RENX summer CRE review
Welcome back. If you’ve been away on vacation or spending time at the cottage (without wifi access), you might’ve missed some of the more significant commercial real estate stories during the past 10 weeks or so. RENX is here to help. We’ve compiled this list (in no particular order) of some of our most important, and most-read, stories
Canadian cities commit to net-zero carbon buildings by 2030
Canada contains less than 0.5 per cent of the world’s population, yet it contains 18 per cent of the cities which promise to ensure new buildings operate at net-zero carbon by 2030. Toronto, Vancouver and Montreal have all made the pledge as part of the World Green Building Council Net Zero Carbon Buildings Commitment.
Assessment appeals: Big property owners aren’t the bad guys
I’ve been watching this story unfold through the media for a couple of weeks now and feel compelled to weigh in, given the whining tone that has emerged and the unbalanced perception it creates. It all started with word that the City of Cornwall is suing the Municipal Property Assessment Corp. (MPAC) for negligence.
Six months ago: Expect CRE bull run to continue, CBRE says
Nine years into a bull run for the Canadian commercial real estate industry, underlying fundamentals remain so strong there’s no end in sight to the market cycle. That is the sentiment expressed in CBRE’s “Canada Market Outlook 2018” report and reiterated by executive vice-president and executive managing director Paul Morassutti during the company’s annual Canadian CRE outlook presentation.
One year ago: Summit Industrial Income REIT in major growth mode
Summit Industrial Income REIT could invest $250 million in new real estate this year as it looks to achieve a billion-dollar portfolio in 2018. “I think there are going to be some bigger portfolios coming to the market in the next year or so,” said CEO Paul Dykeman. “If you can land one of those, and do an offering at the same time, then all of a sudden your growth accelerates a little bit further.”
| Property Biz Canada, Tuesday, August 28, 2018 |
| JLL Canada’s dramatic growth continues in 2018 Property Biz Canada, August 28, 2018 |
| Companies crave larger Vancouver industrial spaces: Beedie Property Biz Canada, August 28, 2018 |
| Toronto, GTA major focus for RioCan’s redevelopments Property Biz Canada, August 28, 2018 |
| Metcalfe Realty guts Ottawa office building for Nav Canada Property Biz Canada, August 28, 2018 |
| Bid dropped, Pure Multi-Family ends sale process Property Biz Canada, August 28, 2018 |
| Canadian CRE: An investor’s best-kept secret? The Long View, August 23, 2018 |
| LaSalle fund buys into Minto Place, Calgary mall Property Biz Canada, August 23, 2018 |
| Six months ago: CF Sherway Gardens finishes $550M redevelopment Property Biz Canada, February 24, 2018 |
| One year ago: Hong Kong’s Aoyuan has big plans in Vancouver, Toronto Property Biz Canada, August 27, 2017 |
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