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Canada’s largest cities need more industrial space
Canada’s largest cities need more industrial space
As industrial vacancy rates continue to plummet in Canada’s six largest cities, the need for more facilities is becoming more acute, says a Colliers International report. Overall occupancy grew by an annualized 1.59 per cent in Q3 and 1.74 per cent during 2018; that’s 6.7 million square feet of absorption in the quarter and 14.5 million square feet for the year.
Vancouver’s Beedie branches out, grows residential business
For Ryan Beedie and the development firm that shares his last name, the past couple of years have included a personal loss and frustration over a contentious project, but also major growth for the 65-year-old company, founded by Ryan’s late father Keith. The elder Beedie died last year at the age of 91.
Avison Young targets Montreal market for growth
Avison Young Montreal is aiming to be among the top three of Montreal commercial real estate brokerages in terms of sales volume or number of brokers within four years, says a new partner in the Montreal office who recently moved over from CBRE. “We can do this by acquiring some good people (and we) might buy some smaller shops,” says Robert Metcalfe, principal, capital markets at Avison Young Montreal.
The Edison: Aspen renews aging Calgary office building
BOMEX 2018 in Calgary offered building owners and property managers from across Canada a guided tour of an innovative and shining example of how to turn an aging downtown property into an office building of the future. Aspen Properties took a 30-storey B-class tower built in 1981 and turned it into an amenity-rich building.
Ivanhoé Cambridge’s Jonathan Pearce discusses future of CRE
It’s always useful to get perspective on the outlook for commercial real estate by engaging in a dialogue with an industry-leading broker. And by the same token, there’s abundant value in talking with landlords at the top of their game.
Six months ago: Hines, Oaktree acquire Calgary’s First Tower
Hines and Oaktree Capital Management have closed the purchase of Calgary’s First Tower office building, and plan a “significant capital upgrade program” to reposition the half-vacant class-B property. The two U.S.-based firms announced the acquisition Wednesday — Oaktree on behalf of a “subsidiary of real estate funds” it manages.
One year ago: Strathallen hits ‘critical mass’ with OneREIT acquisitions
The acquisition of 44 former OneREIT properties by Strathallen Capital Corp. has moved the company into the big league among Canadian property owners and managers. Strathallen completed its $702.9-million acquisition from OneREIT last week. Brian Spence, chairman of the Toronto-based real estate management company, told RENX he believes the transaction will open the door to further growth.
| Property Biz Canada, Tuesday, October 9, 2018 |
| QMLP buys 12 St. Catharines apartments from Skyline Property Biz Canada, Oct. 9, 2018 |
| Allied, Westbank ready to build KING Toronto project Property Biz Canada, Oct. 9, 2018 |
| Calgary, Edmonton driven by private investors Property Biz Canada, Oct. 9, 2018 |
| EcoLock Kelowna pushes storage into sustainable era Sustainable Biz Canada, Oct. 9, 2018 |
| Is NAFTA 2.0 a boom to rural and small-town economies? Value, Weighed and Measured, Oct. 9, 2018 |
| Oxford unveils plan for NYC’s St. John’s Terminal Property Biz Canada, Oct. 2, 2018 |
| Six months ago: Oxford invests $110M to revive Les Promenades Gatineau Property Biz Canada, March 10, 2018 |
| One year ago: PSP Investments, AimCo JV with Starlight on $1.3B venture Property Biz Canada, October 10, 2017 |
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