Laurentian Bank to cut leased office space by 50%

RENX  Commercial  •  Office  •  Ontario, Toronto / GTA, Greater Montreal

Laurentian Bank of Canada (LB-T) has announced a series of operational changes as a result of a strategic review, including a plan to slash its leased office space in Montreal, Toronto and Burlington, Ont., by half.

Van. strata industrial includes 2nd-storey truck ramp

RENX  Commercial  •  Industrial, Office  •  Metro Vancouver

Gordon Yeh was a 26-year-old engineering graduate who had decided to enter the world of residential real estate development with his new firm Alliance Partners when the B.C. government introduced the province’s first foreign buyer tax.

Parkit acquires Oakville industrial property for $18M

Commercial  •  Newsfile  •  RENX

Parkit Enterprise Inc. (PKT-X)  has entered into an industrial purchase agreement with an arms-length vendor to acquire 1485 Speers Rd. in Oakville for an aggregate purchase price of $18 million. The property is approximately 101,500 square feet on approximately 6.7 acres of land.

CRE Matters › Bigger, stacked buildings and tech keys to future-proofing warehousing

Colin Alves & Jean-Marc Dube: Colliers Toronto & Montreal

Acquisitions show confidence in bricks-and-mortar

Commercial  •  Globe and Mail  •  RENX

The Canderel-led consortium’s $5.7-billion agreement to buy Cominar REIT (CUF-UN-T) is a significant bet on people going shopping again, says Luciano D’Iorio, regional president, Quebec, for CDN Global, a nationwide group of real estate advisers.

Sponsored by Trez Capital Commercial real estate trends show opportunity

Many industries struggled with the uncertainty of the last few years. The pandemic and aftermath impacted all commercial real estate asset classes, but has also shown that innovative solutions in the market have made way for opportunities. The pandemic put

Sorbara Group proposes 39-storey condo

Residential, Commercial  •  Urban Toronto

A proposed development by the Sorbara Group at 410 Sherbourne St. for a new 39-storey residential condo building would bring 456 units to Toronto’s Cabbagetown–South St. James Town neighbourhood. The Graziani + Corazza Architects-designed building would include retail at grade.

KingSett proposes 34-storey mixed-use

Residential  •  Urban Toronto  •  RENX

KingSett Capital proposes to redevelop the northeastern portion of the existing building at 595 Bay St. with a 34-storey mixed-use consisting of a two-storey base building and a 32-storey residential tower. The Hariri Pontarini Architects-designed building would include 317 purpose-built rental units.

Calgary offices could become retail fulfillment centres

Commercial  •  Retail Insider  •  RENX

During a panel discussion on the industrial real estate market at the recent Calgary Real Estate Forum, the idea of using under-utilized office space in the central business district as retail distribution centres was discussed as a potential trend.

BMO says cost of flood disaster likely to exceed $7.5B

Residential, Commercial  •  Business In Vancouver

Economists at the Bank of Montreal (BMO-T) are cutting B.C.’s economic forecast as the flood delivers another blow to its growth prospects. The bank had originally pegged GDP growth at 5.3% for the year but has downgraded that outlook to 3.8%.

The supply chain crisis explained

Commercial  •  Globe and Mail  •  Globe and Mail

The COVID-19 pandemic has warped global supply chains, leading to product shortages, shipping delays, disruptions to manufacturing and soaring consumer prices fuelling concerns about persistently high inflation. Health protocols have caused factory shutdowns and labour shortages in key transportation nodes.

Canada’s ALDO Group continues climate action

Commercial  •  Sustainable Biz Canada

Canadian fashion retailer the ALDO Group renewed its climate-neutral certification and continues to take strides toward reducing its greenhouse gas emissions. The company also joined We Mean Business, an international coalition with the goal of accelerating climate action.

Nicola acquires two Denver-area industrial properties

Commercial  •  Globe Newswire  •  Wealth Professional  •  RENX

Nicola Wealth Real Estate (NWRE) has acquired two modern multi-tenant industrial properties known as Chatfield Distribution Centre in Littleton, Colo., and 4700 South Santa Fe Portfolio in Englewood, Colo. The acquisitions total 158,545 square feet and the buildings are currently 98% leased.

Samsung picks Texas for $17B semiconductor plant

Commercial  •  CP Executive

After scouting locations in Greater Phoenix, near Austin, Texas, as well as a site in Western New York, Samsung has opted to build its $17-billion semiconductor plant in Taylor, Texas, the Wall Street Journal first reported.

Walmart, DroneUp launch commercial drone delivery

Commercial  •  PR Newswire

DroneUp and Walmart announced on Monday the first multi-site commercial drone delivery operations. The three Northwest Arkansas Walmart locations will operate from 8 a.m.-8 p.m., seven days per week, to deliver items to eligible customers by air in as little as 30 minutes.

Tricon plans to build 3,000 build-to-rent homes in U.S.

Residential  •  Canada Newswire  •  RENX

Tricon Residential Inc.’s (TCN-T) active build-to-rent community pipeline has expanded to over 3,000 rental units in 23 new home communities across the U.S. Sun Belt. The communities are under development or under contract within Tricon’s existing single-family rental investment vehicles.

T.O.’s chief planner pushing for multi-unit homes

Residential  •  Toronto Star

Toronto’s chief planner Gregg Lintern is hoping to crack open the city’s long-impermeable “yellowbelt,” adding extra housing supply to neighbourhoods currently dominated by single-family homes. Lintern and his team recommend duplexes, triplexes, fourplexes and, in some cases, walk-up apartments.

Housing shortage ‘becoming more and more of a crisis’

Residential  •  Financial Post

VIDEO: Christopher Alexander, president of Re/Max Canada, talks to Financial Post’s Larysa Harapyn about how Canada’s housing shortage is becoming a crisis and all levels of government need to act to increase supply.

Blacks have some of the lowest home ownership rates: Statscan

Residential  •  Globe and Mail (Sub. required)

Black Canadians and the LGBTQ population have some of the lowest home ownership rates in Canada, according to new government studies that attempt to quantify how various groups are faring in the country’s housing market.

Laneway homes lower value in affluent Van. neighbourhoods

Residential  •  Vancouver Sun

Data from a study to be published in the Journal of Urban Economics shows that in more affluent areas of Vancouver, having a laneway house right next door can knock down your property value by 3.8 per cent, on average.