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GTA office availability still rising, but might be nearing peak
GTA office availability still rising, but might be nearing peak
Office space availability rose to 20.8 per cent and the number of buildings with over 50,000 square feet available increased to 240 from 229 during Q3, according to Avison Young’s latest GTA office report. But the news isn't all bad.
Crown keeps expanding western GTA office portfolio
Crown Realty Partners has acquired 5750 Explorer Dr., a 108,496-square-foot office property in Mississauga’s Airport Corporate Centre, in an off-market transaction brokered by CBRE.
Loblaw willing to scrap exclusivity clauses in leases: CEO
The chief executive officer of Loblaw Cos. (L-T) is committing to eliminate exclusivity clauses in store leases that prevent competitors from setting up shop nearby – if other grocery retailers agree to do the same.
Mall redevelopments underway in Toronto and the GTA
Retail analysts and business insiders say the role of retailers and malls is evolving. Several malls in Toronto and the GTA have started or are planning redevelopments in an effort to satisfy the needs of 21st century customers.
Huge data centre projects join Alberta's power lineup
In May, the Alberta Electric System Operator (AESO) tracked several proposed data centres that wanted to connect to the province’s transmission system. According to industry experts, there is more than 5,000 MW of load in AESO’s application line-up.
Receiver alleges Mizrahi owes The One’s lenders $58.8M
Luxury skyscraper The One's saga has taken a new turn with allegations the project’s original developer, Sam Mizrahi, overpaid his firm millions and kept commissions from defaulted sales to buyers, including a convicted U.S. fraudster and a Princess of Liechtenstein.
Dollar risks falling to lows only seen during economic shocks
The Canadian dollar is at risk of falling to lows only seen during big economic shocks as forces once again line up against the currency, economists warn. The recent Bank of Canada rate cut put added pressure on the currency.
Nicola Wealth and Townline complete project in Coquitlam
Nicola Wealth Real Estate and Townline have announced the completion of Meridian, a landmark 37-storey rental apartment project located at 515 Cottonwood Ave. in Coquitlam, B.C. The project brings 267 rental homes to the thriving Burquitlam neighbourhood.
Van Mills retail centre in Mississauga sold via receivership
The Van Mills Centre retail plaza in Mississauga has been sold as part of receivership proceedings pertaining to Vandyk Properties, according to court filings. The 4.29-acre property sits adjacent to the former Sheridan Centre shopping mall.
Columbia Square plan for New Westminster passes hurdle
A major redevelopment proposal from Edgar Development, for the Columbia Square Plaza site in downtown New Westminster has cleared a hurdle – but it’s not a done deal. The proposed mixed-use development would include commercial space and 3,800 residential units.
Costco jumps into beer and wine in Ontario
Fewer than 15 per cent of grocery stores eligible for an alcohol sales license have applied for one. Big-box giant Costco, however, has leapt in with both feet, with all 31 of its Ontario stores getting licenses.
BC Developments launches $50M project at Hamilton airport
BC Developments has broken ground on a $50 million, state-of-the-art fixed-base operator facility at Hamilton International Airport. It will feature a modern terminal with exclusive lounges, meeting rooms and high-end amenities tailored to discerning travellers.
Quebec-Toronto high-speed train link could cost over $100B
The high-speed train desired by the federal government between Quebec City and Toronto will cost more than $100 billion, according to information from La Presse. This hefty bill could reach almost $200 billion if extensions are added.
Volkswagen commits to open $7B Ontario plant on time
Automotive giant Volkswagen is shutting plants in Germany and cutting thousands of jobs, but pledged Tuesday it will open its $7-billion St. Thomas, Ont. plant on time, with a full workforce.
Hanon to build $155M auto parts plant in Woodbridge
Hanon Systems has announced it will build a new 284,000-square-foot automotive parts facility in Woodbridge, Ont. The new $155-million plant will manufacture e-compressors, a component for electric vehicles, creating 300 jobs, a release states.
Panel looks at accelerating the adoption of mass timber
As a $400M-per-year industry, mass timber is still in its infancy in Canada, representing only about one per cent of all construction. Some analysts project the emerging market will hit $1.3B annually by 2030.
Brookfield buys $2.3 billion stake in Orsted U.K. wind farms
Brookfield bought a US$2.3 billion stake in four offshore wind farms from Orsted A/S in one of the biggest deals for the sector this year. The deal marks a significant expansion into offshore wind for Brookfield.
AIMCo and Ridgeback have purchased Mitre Yard in London
Alberta Investment Management Corporation and Ridgeback Group have acquired Mitre Yard, a premier build-to-rent (BTR) development in North West London. This acquisition from City & Docklands adds to the joint venture's expanding footprint in the thriving BTR sector.
KKR and Energy Capital Partners form $50B partnership with eye on AI
Global investment firm KKR (KKR-N) and Energy Capital Partners, the largest U.S private owner of power generation and renewables, have announced a US$50B strategic partnership to meet power needs for the expansion of artificial intelligence.
Reuben Brothers buys W South Beach in $400-million deal
Reuben Brothers purchased the W South Beach in a deal that’s valued at more than US$400 million. The firm, run by David and Simon Reuben, purchased the luxury hotel in the Miami area from owners Tricap and RFR.
Industry Events
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Canada Real Estate Auctions
Dec 01 2024
to Dec 31 2024
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Global Property Market
Dec 03 2024
Metro Toronto Convention Centre, South Building
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Toronto Real Estate Forum
Dec 04 2024
to Dec 05 2024
Metro Toronto Convention Centre, South Building
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Quebec Apartment Investment Conference
Feb 19 2025
Palais des congrès de Montréal
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RealCapital
Feb 25 2025
Metro Toronto Convention Centre, North Building
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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