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Recent Articles

IWG can’t grow fast enough, seeks Cdn. partner: CEO

5 years ago

RENX   •   • 

IWG plc, the biggest operator of co-working offices in both Canada and the world, seeks a partner or partners for its Canadian operations to accelerate growth. IWG aims to establish a master franchise agreement, says CEO Wayne Berger.

RENX   •   • 

The Toronto Don Valley Hotel and Suites property, a prime potential redevelopment site along Eglinton Avenue near the Don Valley Parkway, is being sold for $102 million. The buyer is DVP Hotel Development, according to owner Allied Hotel Properties Inc. (AHP-X).

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Avison Young reports the Fraser Valley has become the Lower Mainland’s “most active industrial market,” with 105 sales worth $185 million in the first half of 2019. This represents a quarter of the $740 million worth of industrial transactions Avison Young reported for B.C.

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Computing Technology Industry Association (CompTIA)’s Cyberprovinces 2019 study reveals that overall tech jobs grew by 3.8 per cent in 2018, year-over-year, with net tech employment increasing by an estimated 249,000 new jobs since 2010. However, where are these high-paid workers going to work?

CMLS Commercial Mortgage Commentary Q2 2019

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The city is trimming millions from its plan to redevelop Hamilton’s waterfront because the project is about $15 million over budget. Hamilton’s west harbour development subcommittee voted Tuesday to scrap a $2,490,00 plan to redevelop Bayview Park.

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If you were to design your ideal city, what would it look like? Would it be filled with arteries lined by big-box stores? Or would it showcase more walkable neighbourhoods with a wide range of businesses, vendors and public spaces?

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Côte-des-Neiges–Notre-Dame-de-Grâce officials are envisioning a new future for St-Jacques Street, and that future does not include new motels or hotels. The moratorium will ban all new motel construction on St-Jacques Street from Décarie Boulevard to Montreal West.

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The Canada Infrastructure Bank (CIB) considered creating a public utility to lower internet prices for consumers and compete with Bell, Rogers and Telus. The bank also discussed fundamental changes to how telecommunications infrastructure is regulated.

Centurion REIT

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Montreal-headquartered Dalfen Industrial announced the acquisition of Northwood Industrial Park located at 2915, 2925 Courtyards Dr. and 3055 Northwoods Circle, in Norcross, Ga.  Northwood Industrial Park consists of three buildings totaling 143,668 square feet, strategically positioned in the highly desirable Northeast Atlanta submarket.

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APG will acquire a 39 per cent stake in Interparking, one of Europe’s largest car park owners and operators. APG will buy the stake from CPP Investment Board Europe, a wholly owned subsidiary of Canada Pension Plan Investment Board (CPPIB).

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Edmonton’s bricks-and-mortar retail scene is overcoming challenges from e-commerce and a troubled economy, according to a report from Cushman & Wakefield (CWK-N). “The Alberta economy is starting to show signs of positive growth,” the report noted.

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Two longtime restaurants are closing in the South Granville neighbourhood at the end of their leases, raising the spectre rising lease rates in that neighbourhood are getting too high for restaurant owners to bear.

Landmark

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American burger chain Red Robin will be closing all five of its Alberta stores by Dec. 8. The company’s other 12 stores are in B.C. Communications director Kevin Caulfield called the closures part of a “reassessment of Red Robin’s real estate portfolio.”

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McDonald’s Corp. (MCD-N) missed Wall Street estimates for profit for the first time in two years Tuesday as more investment to spruce up U.S. restaurants weighed on the world’s biggest fast food chain, sending its shares down four per cent.

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Australia’s second-largest pension fund QSuper wants to buy more office buildings and apartment developments in the U.S. after purchasing Chase Tower in Texas in August, chief investment officer Charles Woodhouse said in an interview.

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ConstructConnect’s grand total construction starts statistics two-thirds of the way through 2019 are almost even year-over-year: down 3.3 per cent. However, it is much more heavily weighted towards very large projects, the so-called “mega projects” of one billion dollars or more each.

BOMA

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The re-election of Justin Trudeau’s Liberals on Monday will likely result in potential new barriers for foreign real estate investors as well as some help for first-time buyers, but not the more significant changes opposition parties had promised.

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A major cause of the last two downturns in housing prices was an oversupply of properties for sale. Could it happen again? Veritas Investment Research set out to answer the question using an informal survey of more than 200 real estate investors.

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A real estate investor and co-founder of a “socially conscious” cannabis company who evicted tenants from four Toronto apartments to convert their homes into a daycare and a gym says the process is “the nature of the real estate business.”

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Homeowners hoping to sell a house in the Toronto area for a jaw-dropping premium may be disappointed during the dwindling days of October. Bosley Real Estate’s David Fleming is envisioning deflated sellers sitting around the dining room table.

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