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Office market sees first quarterly net rent decline in years
Office market sees first quarterly net rent decline in years
While it was less than one per cent, the Canadian office market saw its first quarterly asking net rent decline in years in Q1 2023, according to Colliers’ new “National Market Snapshot” report.
ERES CEO steps down, CAPREIT's Mark Kenney takes over
Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) (CAR-UN-T) and European Residential Real Estate Investment Trust (ERES) (ERE-UN-T) have announced ERES CEO Phillip Burns has stepped down.
CRE on shaky ground; investors are going to pay the price
OPINION: The CRE market, especially in the office building sector, is about to enter a perfect storm of declining vacancy rates, lower rents, high interest rates and less access to credit. This will challenge banks and other financial firms.
The case for investing in office REITs
“Office sentiment is extremely weak right now. But many in the market are making the assumption that these challenges will exist in perpetuity,” says Paul Morassutti, chairman of CBRE Canada. “I don’t really buy into that view,” he added.
Large portion of T.O.'s Kensington Market for sale at $24M
A large portion of Toronto’s eclectic Kensington Market community is on the chopping block, with a group of properties hitting the market for a combined $24 million, and potential plans to redevelop the site with a new mid-rise building.
The possible new NHL arena locations in Ottawa
An old city works yard, the woefully under-used baseball stadium, even the Department of National Defence tower on Colonel By Drive could soon be home to the Ottawa Senators. All rink sites are being floated as alternatives to LeBreton Flats.
Calgary's $500-million BMO Centre Expansion taking shape
The completed steel frame of the BMO Centre Expansion is primed to deliver a new Calgary landmark to Stampede Park. The Calgary Municipal Land Corporation is overseeing the $500-million investment to design and construct a 565,000-square-foot addition.
Calgary expands office conversion program
The City of Calgary is expanding its Downtown Calgary Development Incentive program. The program will now provide grants to building owners the additional option for empty office conversion to hotels, schools and performing arts spaces.
Edmonton's Blatchford LRT stations set to open in 2024
Edmonton’s new Metro Line LRT stations in Blatchford are expected to open ahead of schedule early next year, and two finalists for extending the Capital Line LRT South to Ellerslie Road will be invited to make their final pitches.
St. John's CRE properties in receivership, for sale
Commercial properties in downtown St. John's totalling over 75,000 feet of space are up for sale by tender after going into receivership. The properties were part of Pier 86 Management Inc., a company owned by St. John's businessman Vic Lawlor.
Powder King Mountain Resort for sale at $8.3 million
An entire ski resort has come up for sale in Northern B.C. for $8,250,000. Powder King Mountain Resort and Azouzetta Lake Resort feature more than 900 acres of skiable terrain, 37 runs and three lifts.
FDIC selects Newmark to sell $60B in Signature Bank loans
The Federal Deposit Insurance Corporation has hired Newmark to sell $60 billion in loans originated by Signature Bank, following the financial institution’s collapse earlier this month. The financial institution’s implosion marked the third-largest bank failure in U.S. history.
Enbridge, Yara plan $2.9B blue ammonia plant in Texas
Calgary-headquartered Enbridge (ENB-T) and Norway’s Yara and plan to invest up to $2.9 billion to build a low-carbon blue ammonia production plant in Texas. The plant is to be built at the Enbridge Ingleside Energy Center near Corpus Christi.
Future of multi-storey warehouses in question
It's been less than five years since Prologis built the first multi-storey warehouse in the U.S. However, with millions of square feet of multi-storey industrial under construction and seeking tenants, questions remain about how deep the demand goes.
WeWork CEO: Traditional office is the new retail
“Just as we saw the brick-and-mortar retail industry transform with e-commerce, we believe a seismic behavioral shift is transforming the traditional commercial office landscape — putting WeWork front and centre as the flexible solution,” CEO Sandeep Mathrani wrote to shareholders.
How much GTA home and condo prices have dropped
Real estate prices have fallen dramatically over the past 12 months in the GTA. Broken down by region, Durham saw the biggest year-over-year decline in average price for all dwelling types combined at 27.7 per cent in February.
Housing starts high in B.C. Kootenays' largest cities
According to BC Check-Up: Invest, an annual report by the Chartered Professional Accountants of British Columbia (CPABC), there were 309 housing starts in the Kootenays’ two largest municipalities in 2022, an increase of 5.5 per cent from 2021.
For resort town workers, housing scarcity is worsening
For more than seven decades, housing availability in the mountain town of Jasper, Alta., has been a challenge. The shortfall in the number of rental units needed has gone from 235 units in 2002 to roughly 700 in 2022.
In Vancouver’s Downtown Eastside, a society’s wounds hurt everyone
ANALYSIS: Brock Worobel, who lives at 53 West Hastings in the Gastown neighbourhood of Vancouver, said he is fed up with the crime and filth and wants to move, but can’t sell his condo at a reasonable price.
Industry Events
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Canada Real Estate Auctions
Dec 01 2024
to Dec 31 2024
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Global Property Market
Dec 03 2024
Metro Toronto Convention Centre, South Building
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Toronto Real Estate Forum
Dec 04 2024
to Dec 05 2024
Metro Toronto Convention Centre, South Building
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Quebec Apartment Investment Conference
Feb 19 2025
Palais des congrès de Montréal
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RealCapital
Feb 25 2025
Metro Toronto Convention Centre, North Building
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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