$170M Montreal industrial portfolio acquired by BGO

RENX  Commercial  •  Industrial  •  Greater Montreal

BentallGreenOak has spent $170 million to acquire a six-building industrial portfolio with 767,564 square feet of gross leasable area on the Island of Montreal. It expects to close on a seventh building in the Camco portfolio by year-end.

TAKOL, CMCC buy land to develop GTA industrial condos

RENX  Commercial  •  Industrial  •  Toronto / GTA

TAKOL Real Estate Inc. has specialized in selling industrial condominiums in the GTA since its inception in 2015, and is now moving on to its first ground-up development, a 420,000-square-foot property in Milton.

ICBC to vacate North Van head office in 3-5 years

Commercial  •  North Shore News

After occupying one of the most recognizable spots on the North Vancouver waterfront for over 40 years, the Insurance Corp. of British Columbia announced Thursday it plans to vacate its 300,000-square-foot head office in the next three to five years.

Equiton acquires Sherwood Park multires. for $27.75M

Residential  •  Canada Newswire  •  RENX

The Equiton Residential Income Fund Trust has acquired a recently built multiresidential property in Sherwood Park, Alta.,  for $27.75 million. This acquisition marks Equiton’s entrance into Western Canada in keeping with its strategy to geographically diversify its portfolio.

H&R proposes redeveloping early T.O. skyscraper

Residential, Commercial  •  blogTO  •  RENX

H&R REIT (HR-UN-T) proposes to transform the Canadian Pacific Building at 69 Yonge St. by adding a 20-storey modern addition to the landmark Edwardian-style proto-skyscraper. The Partisans-designed building would include 127 condominiums, plus 14,650 square feet of commercial space.

DC Dev proposes 19-storey condo

Residential  •  Urban Toronto

DC Dev Corp seeks to redevelop 450 Richmond St. W. with a 19-storey condo. The site, currently a parking lot, is steps away from the future Queen-Spadina station on Ontario Line 3. The architects—Alliance-designed proposal would offer 116 residential units.

Victoria considers stimulus to help F.N. develop site

Residential, Commercial  •  Victoria Times Colonist

To help the Esquimalt and Songhees First Nations redevelop the Rock Bay land they purchased from B.C. Hydro this year, the City of Victoria will develop a revitalization program that could include a property tax exemption for up to 10 years.

Three Montreal golf courses added to protected list

Commercial  •  La Presse

Despite the numerous lawsuits against it, the Montreal Metropolitan Community (CMM) will adopt an amendment to its interim control by-law to protect three other golf courses on its territory from being converted into green space.

Slate Asset Mgmt. acquires minority stake in Roswall

Commercial  •  Sustainable Biz Canada

Couche-Tard marketing food to break fuel dependency

Commercial  •  Financial Post  •  RENX

Circle K parent Alimentation Couche-Tard Inc. (ATD-A-T) gets about half of its gross profit from fuel, hardly an ideal situation with a shift toward electric vehicles. That has CEO Brian Hannasch pondering how to kick-start the company’s fresh food business.

Canada’s largest Canadian Tire store opens in Ottawa

Commercial  •  CTV

The largest Canadian Tire store in Canada is now open at Ottawa’s Carlingwood Shopping Centre. As Canadian Tire celebrates its 100^th birthday this month, the 135,000-square-foot store opened in a former Sears location.

Restaurants forced to adjust business models

Commercial  •  Ottawa Business Journal

Restaurants in Canada are raising prices, shrinking menus and reducing hours in a bid to survive inflation and labour shortages. Union Local 613 on Ottawa’s Somerset Street is navigating these challenges by “playing the long game,” says owner Ivan Gedz.

Ivanhoé, Lendlease building $500M life sciences project

Commercial  •  Commercial Property Executive  •  RENX

Lendlease and Ivanhoé Cambridge have broken ground on FORUM, a $500 million life sciences project in Boston. Scheduled for completion in 2024, the 350,000-square-foot building is the first life sciences development partnership between the two companies.

World’s highest residence on market for $250M

Residential  •  People  •  Canada Newswire  •  digg

The world’s highest residential apartment has hit the market for $250 million. Located 1,416 feet above New York City at the Central Park Tower, the luxury penthouse boasts seven bedrooms, eight bathrooms and three powder rooms, in 17,500 square feet of living space.

The Trump properties at the centre of NYC fraud lawsuit

Residential, Commercial  •  Wealth Management  •  Politico

From his skyscrapers to golf resorts, Donald Trump allegedly manipulated the value of a range of assets that inflated his net worth for years and defrauded banks, insurance companies and the Internal Revenue Service, says New York AG Letitia James.

WSP completes acquisition of Capita REI, GLH

Commercial  •  Globe Newswire

WSP Global Inc. (WSP-T) announced the completion of its acquisition of two U.K.-based businesses: Capita Real Estate and Infrastructure Ltd. (Capita REI) and GL Hearn Ltd. (GLH), both owned by Capita plc.

Toronto suddenly seeing a spike in bidding wars

Residential  •  Toronto Star

Toronto’s real estate market has entered its biggest slump in decades, yet some properties are generating a surprising amount of competition. A three-bedroom bungalow in the Wexford-Maryvale neighbourhood recently drew a startling 57 offers. It sold for $390,100 above the $629,900 asking price.

‘Starter home’ concept becoming a distant memory

Residential  •  Globe and Mail  •  Toronto Star  •  Toronto Star

Individuals, couples or young families used to think of their first homes as “starter properties,” which they would later upgrade for more space, essentially climbing metaphoric property ladders until settling on forever homes later in life.

Slow sales in Windsor Essex causing angst

Residential  •  CBC

At the peak of the house selling boom in March the average selling price in the Windsor Essex area was $723,739. It was down to $520,634 last month, according to the Windsor Essex County Association of Realtors.

Intensification preferable to urban sprawl in cities: Experts

Residential  •  Globe and Mail

While there’s a general consensus among planners and politicians that increasing the density of urban developments is a healthy way to grow, there is disagreement about what laws and regulations are needed to encourage the right types of intensification.