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Empire closes Crombie-owned Calgary distribution centre

1 day ago

Empire closes Crombie-owned Calgary distribution centre

Crombie REIT (CRR-UN-T) announced it expects “no material financial impact” as a result of Empire Co. Ltd.'s decision to immediately close its e-commerce customer fulfillment centre in Calgary and a satellite facility in Edmonton.

Efforts ongoing to backfill vacant HBC stores: JLL report

Sixty-five per cent of the 96 department store spaces left vacant by last year’s demise of Hudson’s Bay Company (HBC) will be committed to new tenants within two years, a new JLL report forecasts.

Trapped digger rescue could cost all highrise builders

The little digger that couldn’t may finally be free, but its legacy could complicate things for developers and builders in Toronto, who are warning of higher housing costs as a result.

A $10B data centre is being proposed in Olds

A proposed $10-billion private-sector data centre development in Olds would be approximately 10 times larger than existing data centres currently operating in Canada, according to Synapse Data Center Inc.

 

Pattison firm did not know warehouse intended for ICE

Jim Pattison Developments, which has come under fire over the planned sale of a warehouse in Virginia to U.S. Homeland Security to be used by Immigration and Customs Enforcement, says the sale is still subject to approval.

Vancouver approves residential tower on industrial land

Vancouver council’s eagerness to transform its industrial land is causing alarm and bewilderment among local city planners. This week, Vancouver city council approved Strand Development's proposal to build a residential tower on a property zoned for industrial use.

Bridge mortgage financing in the current real estate environment

In 2025, Firm Capital celebrated its 38th anniversary while the publicly traded Firm Capital Mortgage Investment Corporation (FC -T) completed its 27th year of being public since its October 1990 initial public offering.

Sponsored by: Firm Capital

Coquitlam inks deal on Austin Heights seniors project

After three years of back and forth, it’s moving forward. Coquitlam council unanimously approved a housing agreement bylaw on Monday regarding a 20-storey Austin Avenue highrise slated to include 170 units for seniors operated by PARC Communities Management.

Luxury sector only bright spot in Toronto’s condo collapse

Luxury condominium buyers remain one of the few bright spots in the Greater Toronto Area after 2025 saw a collapse in sales of new condos to levels not seen in more than 35 years.

Ottawa's new zoning bylaw unanimously passes council

Ottawa city council unanimously passed a major overhaul of zoning rules on Wednesday, capping off a years-long process that’s supposed to make it easier to build housing. The bylaw will grant automatic permission for more units and taller buildings.

Ottawa vows to keep fighting development of golf club

Ottawa city council plans to keep fighting a developer's plans to build 1,500 homes on a Kanata golf course despite the Supreme Court refusing to hear its appeal in the long-running battle against the owner, Clublink.

452 rental units planned near SkyTrain Station in Surrey

An emerging area of Surrey is one step closer to getting hundreds of rental housing units. The 11,870 square metres of city-owned land is set to be transformed into three six-storey apartment buildings with a total of 452 units.

Wellness retailers led Toronto's commercial leasing in 2025

Athleisure, wellness and beauty dominated Toronto retail leases in 2025, as demand for space in the city remained strong and rents in high-traffic areas continued to rise, despite volatility at the start of 2025.

35-storey hotel, rental tower plan in downtown Vancouver

Another new hotel project from Bonnis Properties is planned for the 1100 block of Granville Street in downtown Vancouver, with the intent of helping to accelerate the revitalization of the Granville Entertainment District (GED).

Winnipeg hotel to become 11-storey residential tower

A Winnipeg hotel that's stood empty for more than two decades is one of four downtown heritage buildings slated to be converted into residential housing with the help of $4.7 million in public funds.

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Deloitte's $2.6B deal tops NYC's priciest leases of 2025

A big-four consulting firm last year signed the most expensive lease in New York City since the pandemic amid a resurgent office market, demonstrating the eye-popping sums companies are willing to pay for space in new towers.

Camden looking to exit California with $1.5B portfolio sale

Camden Property Trust has put its 11 multifamily properties in California up for sale, Real Estate Alert reported. The Houston-based REIT's properties could be worth more than US$1.5B, according to Piper Sandler.

Blackstone beats estimates on deal-making, data centres

Blackstone, the world’s largest alternative asset manager, beat Wall Street expectations for Q4 profit on Thursday, as it cashed in on heightened deal making activity and saw growth in its data centre business.

AI real estate business taps $100M private credit loan

Propy, a real estate technology company, tapped the private credit market for the first time, securing US$100 million to support the startup’s acquisition strategy. The company uses artificial intelligence to expedite the real estate closing process.

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