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Recent Articles

Vancouver office cost increase among world’s highest: CBRE

5 years ago

RENX   •   • 

The cost to occupy downtown Vancouver’s top-grade office space surged by more than any other Canadian market, and topped all but six global cities since early 2018, CBRE says. Vancouver’s occupancy costs climbed by 12.9% since the first quarter of 2018.

RENX   •   • 

To many observers, the retail and industrial real estate markets are going in opposite directions in Canada. Five experts in their fields looked at the two sectors at the Land & Development conference in Toronto and revealed their thoughts.

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Ottawa-based e-commerce software giant Shopify (SHOP-T) has launched a network of fulfilment centres in the U.S. to expand its suite of offerings for merchants in the competitive world of online retail.

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Bruce Linton doesn’t spend much time in his office at an old Hershey’s factory in Smiths Falls, Ont. He’s the founder and co-chief executive officer of Canopy Growth Corp. (WEED-T), the biggest pot company in the world.

NAI Commercial

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Cranes, dump trucks and scaffolding has become a near-ubiquitous feature of Ottawa’s urban landscape as new homes, commercial spaces and amenities are constructed to meet the needs of a city that’s projected to surpass one million residents in 2019.

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The accompanying table records the 10 largest construction industry project starts in Canada in May 2019. Also included is the latest trend graph on starts. This looks at 12-month moving totals of the civil and non-residential building categories in Canada.

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More than 31,000 homes across the country were rented out so often on Airbnb in 2018 that they were likely removed from the long-term rental supply, according to a groundbreaking study by McGill University researchers.

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Alfonso Graceffa, a former top real estate executive of the Caisse de dépôt et placement du Québec, vowed to “vehemently” contest his dismissal while offering to collaborate with police to clear his name.

Romspen Commercial Lender

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Mark E. Rose, chair and CEO of Avison Young, the world’s fastest-growing commercial real estate services firm, announced it has acquired Cambridge-based affiliate Ontario Commercial Real Estate Services now known as Avison Young Commercial Real Estate (Southwestern Ontario) Inc.

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Citing a list of outstanding questions, Squamish council has deferred on passing second reading for Anthem Properties‘ proposal for a major mixed-use development that would encompass three sites.

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A south Osborne Street landmark – the 105-year-old Rubin Block – has been identified by the National Trust for Canada as one of two buildings in Manitoba on the agency’s top 10 endangered places list for 2019.

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Onni Group, a Vancouver-based real estate developer and operator, has acquired Wilshire Courtyard, a two-building office campus in the heart of Los Angeles’ Miracle Mile, from Tishman Speyer for $630 million.

Harbour Equity

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Nexus REIT (NXR-UN-X) has a current yield of eight per cent and the unit price has been quite stable over the past two years. The monthly distribution appears sustainable with a conservative payout ratio of 81.5 per cent,

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Lululemon Athletica Inc. (LULU-Q) has quietly closed its men’s standalone stores in New York City and Toronto even as it plans to more than double its men’s business in the next five years.

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Farm Boy continues its expansion into the Golden Horseshoe with a store in St. Catharines scheduled to open next year. The nearly 25,000-square-foot store will anchor The Fourth Avenue West Shopping Centre,

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PODCAST: A labour shortage combined with high real estate costs is making it difficult for businesses in Surrey and Vancouver, say Elizabeth Model of the Downtown Surrey Business Improvement Association and Charles Gauthier of the Downtown Vancouver Business Improvement Association.

Canadian Apartment Investment Conference

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The Ontario government has released its rent increase guideline for next year, setting 2.2 per cent as the maximum percentage a landlord can increase most tenants’ rent without approval from the Landlord and Tenant Board — the highest increase since 2013.

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People previously lined up overnight to get their hands on pre-sale condominiums. Now that the housing market in B.C.’s Lower Mainland has cooled, some buyers are trying to back out of their contracts — unable to obtain the financing they need.

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Real estate sales in cottage country north of Toronto are off to a slow start this spring as rain, flooding and cool temperatures keep sellers and buyers out of the market.

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Edmonton city council has lifted a moratorium on affordable housing in five neighbourhoods, convinced a new policy and approach will ensure non-market projects are distributed more evenly throughout the city.

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