‘Massive demand’ for space from marijuana retailers: AY

‘Massive demand’ for space from marijuana retailers: AY

The pending legalization of recreational marijuana usage in Canada will change the face of retail in Alberta and present new opportunities for landlords. Ben Volorney, principal, retail at Avison Young in Edmonton, says competition among potential cannabis retailers in Alberta is very high, with deals being negotiated months in advance of the federal government’s expected legalization of cannabis later this year.

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Vancouver industrial land shortage prompts call for farm land

Metro Vancouver’s shortage of industrial land has reached a critical stage and the government must consider drawing more land from B.C.’s agricultural land reserve to cope, says one CBRE industrial expert. CBRE’s year-end industrial report for the region reveals Metro Vancouver’s industrial availability rate dropped 160 basis points to 2.3 per cent by the end of 2017. That is the lowest on record in the region.

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Choice Properties forges new path with acquisition of CREIT

Choice Properties REIT has set itself on a course of redevelopment, diversification and expansion with its $6 billion purchase of Canadian REIT’s sizeable portfolio of assets. “We’ve always had an ambition to really establish Choice Properties as a real estate entity on its own,” said Galen Weston, partiarch of the Weston family which controls Choice, Loblaw and George Weston Ltd. “We always contemplated M and A as a long-term, strategic option for us.”

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New mortgage rules, new opportunities for Atrium MIC

The new regulations tightening mortgage requirements should be bad news for an alternative lender like Atrium Mortgage Investment Corp. Indeed, recent statistics point to the dampening effects of the new rules on Canada’s housing market with sales falling almost 15 per cent in January from December. Yet where many see dim prospects for the remainder of 2018, the CEO and president of Atrium spies a silver lining.

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Quebec couple construct Canada’s second LEED V4 home

A Quebec couple’s picturesque retirement home along the St. Lawrence River has received Canada’s second LEED V4 Platinum home certification. The L’Heure Bleue in Charlevoix, Que., is a 2,350-square-foot modern farmhouse revival located on more than two acres of coastal property which is part of a UNESCO biosphere reserve. 

Sustainable Biz Canada

Six months ago: The Bow prominent on Calgary sublease market

When the Bow tower was built in 2012 in the heart of Calgary, it was a symbol to the rest of the world the city was an economic powerhouse. The just under two-million-square-foot, 58-storey skyscraper, the tallest one west of Toronto at the time, was Encana’s signature headquarters building in the oilpatch, illustrating the company’s success and the city’s stature on the global energy front.

Property Biz Canada

One year ago: CT REIT caps off busiest acquisition year

Despite president and CEO Ken Silver’s contention “that being a boring REIT is not a bad thing,” CT REIT has come off an uncharacteristically exciting year, racking up a total of 16 acquisitions, three developments and 10 intensifications in ongoing developments for a total cost of $598 million.

Property Biz Canada

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