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Recent Articles

Inflation, demand to drive up Edm. industrial lease rates

2 years ago

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With rising inflation and declining vacancy, industrial tenants can expect to see a jump in Edmonton area lease rates, commercial property experts said at the recent Edmonton Real Estate Forum.

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Choice Properties REIT (CHP-UN-T) has acquired a 75 per cent interest in 154 acres of development land in East Gwillimbury, just north of Toronto, where Loblaw (L-T) plans to construct an automated, temperature-controlled distribution facility.

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MCAP announced it has arranged $350 million in construction and mezzanine financing for Vandyk Properties for construction of The Buckingham, the first condominium to be constructed as part of the Grand Central Mimico District, a master-planned, transit-oriented community.

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Twenty-two properties will be up for sale, the City of Toronto announced, in order to recover the unpaid taxes worth a combined total of more than $21.1 million. Most of the properties are vacant commercial places.

Home by AVI

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B.C. engineer Brian McClure has been banned from the profession and fined because an 11-storey rental he designed in Langford was so unsafe its occupancy permit was revoked, says Engineers and Geoscientists BC, the regulatory body for the professions.

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Allied Properties REIT (AP-UN-T) has proposed a 23-storey office building at 460 King St. W. in downtown Toronto. The Morris Adjmi Architects-designed building would include ground-floor retail and offer 439,000 square feet of office space.

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Kinaxis (KXS-T), a manufacturer of supply-chain management software, officially opened its new 160,000-square-foot headquarters on on Palladium Drive in Kanata, just a stone’s throw from the Canadian Tire Centre. The HQ will house 1,000 Kinaxis employees.

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Bids to buy the massive Romanesque cathedral that has loomed over downtown St. John’s, N.L., for over 150 years closed on Thursday. The Roman Catholic archdiocese of St. John’s is selling the basilica to pay physical and sexual abuse survivors.

Fengate

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VIDEO: Jane Gavan, CEO of Dream Residential REIT, discusses how it’s growing its real estate portfolio in the Midwestern U.S. at a time of rising rates. She says investors have an amazing opportunity to capitalize on rental growth.

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Canadians with disabilities make up the largest potential market of consumers, clients, employees and homeowners, with an annual buying power of $25 billion. Many value-seeking companies in the corporate real estate and design industry, however, largely ignore people with a disability.

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Chart and trend graph:

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Entrepreneur Joe Segal served in the Second World War before settling in Vancouver and founding Fields Stores and later buying Zellers and a stake in the Hudson’s Bay Company. He also developed real estate in B.C., forming Kingswood Capital Corporation.

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Canada Mortgage and Housing Corp. adjusted its First-Time Home Buyer Incentive program Wednesday, placing annual caps of eight per cent on both the upside and downside returns it would receive on its share in homes participating in the program.

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Groupe Sélection has launched its new brand Liva to meet the needs of customers in a fast-growing segment of the market. Liva rental apartment buildings will offer active retirees smart, connected units and a wide range of optional services.

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The Greater Toronto Area housing market is becoming more balanced. May home sales dropped 39 per cent from a year earlier and prices rose almost 10 per cent, the Toronto Regional Real Estate Board said Friday.

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Real estate markets in both Calgary and Vancouver are showing signs of continued slowing as the Bank of Canada’s rate hikes appear to be biting into mortgage demand.

Colliers Capital Markets

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Walmart’s cavernous stores are known for aisles of low-priced groceries. Now, those big boxes are hubs for its e-commerce business, serving as launch pads for delivery drones, automated warehouses for online grocery orders and departure locations for direct-to-fridge drop-offs.

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Dalfen Industrial continues to add to its Las Vegas industrial property footprint, acquiring a two-building park at 6475-6485 W Sunset Rd. in southwest Las Vegas. The opportunity was sourced off-market.

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Diversified professional services and investment management company Colliers (CIGI-T) has completed its investment in London-headquartered Basalt Infrastructure Partners LLP, a transatlantic infrastructure investment management firm with over $8.5 billion of assets under management.

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Burger King’s formula for European expansion has relied on a joint venture partnership, including a master franchisee, to open and operate new locations. It hasn’t been able to exit its partnership or close its roughly 800 franchised locations in Russia.

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