IWG, Manulife partner to open Calgary's 8th Regus

International Workplace Group (IWG) has announced its eighth Regus hybrid workplace in Calgary – its first with a partner, Manulife Investment Management.

Slate reports higher NOI, updates strategic review in Q3 results

As it continues to undertake a recently announced strategic review, Slate Office REIT reported gains in net operating income (NOI) and same-property NOI during Q3 of 2022.

Lowe’s selling Canadian retail operations for $550M

Mooresville, N.C.-based Lowe’s Cos. (LOW-N) is selling its Canadian retail operations to private-equity firm Sycamore Partners for $550 million plus other performance-based payments. Lowe’s operates about 450 Canadian stores under the RONA, Reno-Depot and Dick’s Lumber banners.

Google opens doors to downtown Montréal office

The doors are officially open at Google’s new and spacious office in Montreal as part of the tech giant’s ongoing expansion in Canada. The new workplace on Viger Street, which spans five floors, can accommodate up to 1,000 employees.

Remington, Riddell form successful Calgary partnership

Long-standing relationships are critical to the success of businesses and Riddell Kurczaba Architecture has been proud to be associated for 25 of those years with Remington Development Corp., including during the latter's transformation of Calgary's 450-acre Quarry Park.

Condor proposes 35-storey mixed-use tower

Condor Properties has proposed a 388-foot, 35-storey mixed-use tower at 1779-1787 Bayview Ave. in Toronto’s midtown. The IBI Group-designed tower would include 373 dwelling units and 5,823 square feet of ground-floor retail.

Purpose-built rental The Stack at Bayview 75% leased

Since the start of the summer, The Stack at Bayview, a mid-rise development in Toronto’s Leaside neighbourhood, has leased 75% of its 146 rental suites. The Brown Group of Companies' seven-storey development is near Leaside Line 5 Crosstown Station. 

Ottawa light rail extension pushed back to late 2026

Ottawa’s light rail transit has been hit with construction delays that have pushed back its western line extension until late 2026. The City of Ottawa’s director of rail operations, Michael Morgan, gave a construction update on stage two of the LRT.

Grocer profits in 2022 top five-year average

Canada’s top three grocers all posted higher profits this year compared with their average performances over the last five years, Dalhousie University research indicates. Loblaw Companies outperformed its five-year average performance and did better than any of those years individually.

Restaurant Brands profit, sales gain

Sales at Tim Hortons restaurants are continuing to rebound compared to prepandemic levels, parent company Restaurant Brands International Inc. (QSR-T) reported on Thursday as its sales and profit grew in the third quarter.

REIT third-quarter financial results

Artis REIT, (AX-UN-T), Canada Newswire

Dream Office REIT, (D-UN-T), Business Wire

Melcor REIT, (MR-UN-T), Globe Newswire

RioCan REIT, (REI-UN-T), Globe Newswire

Slate Grocery REIT, (SGR-UN-T), Business Wire

Real estate podcasts

José Pellicer, M&G Real Estate: Investing in Europe, CRE Podcast 

Dara Friedman, BentallGreenOak: Tenant engagement imperative in CRE, Tenant Experience Network

David Ju, Concord Pacific: CPA to city building, People Who Perform

CPP JV acquires W Rome seed asset

CPP Investments and Hamilton - Pyramid Europe, through their joint venture, has completed the acquisition of its first asset – the W Rome, Italy. Italy's first W Hotel comprises 162 luxury hotel rooms and re-opened in April 2022 after a full redevelopment.

Manhattan office leasing drops 41% Y-O-Y: Colliers

Manhattan’s October leasing activity dropped by 40% since September and by 41%, year-over-year, according to Colliers October 2022 Manhattan Office Report, the lowest monthly leasing total since May 2021.

U.S. industrial rents continue to climb at robust pace

Heightened demand for U.S. industrial space continued to put upward pressure on rents and the trend is expected to continue, the latest CommercialEdge industrial report shows. Shrinking space availabilities and geographic constraints on new supply have further pushed growth forward.

DB Schenker warehouse will feature 100 Körber robots

DB Schenker, one of the leading global logistics service providers, has partnered with Körber to implement automated warehouse operations for its new distribution centre near Prague. DB Schenker' warehouse will feature automated components, picking systems and 100 autonomous mobile robots.

New immigration targets will help housing recover

A record number of immigrants are slated to arrive in Canada over the next three years, potentially lifting the housing market, but Canada’s already strained housing stock will struggle to keep pace with swelling demand.

Ottawa housing sales down 41% year-over-year

The Ottawa Real Estate Board says the “correction continues” from pandemic-era highs as its members sold 987 residential properties last month — a 41 per cent drop from 1,670 in October 2021.

Montreal home sales at lowest level since 2014

The Quebec Professional Association of Real Estate Brokers says October home sales in Montreal dropped to a level not seen since 2014. October sales totalled 1,501, a 35% year-over-year decrease. Single-family sales fell to the lowest level since 2000.

Saskatoon real estate sees record benchmark price

Saskatoon hit a record benchmark price of $371,600, according to the Saskatchewan Realtors Association (SRA). The record is a 4.4 per cent increase year-over-year, according to a SRA news release.