Larger tenants entering Van. office sublease market

RENX  Commercial  •  Office  •  Metro Vancouver

Small businesses were the first to sublease their office spaces, and now, seven months into the pandemic, bigger companies are starting to look to subletting, according to Colliers International vice-president Matt Carlson.

Local Logic expands real estate market data platforms

RENX  Residential  •  Technology, Homes  •  National, Greater Montreal

Local Logic has compiled more than 85 billion data points which identify lifestyle and location attributes in cities, and the Montreal-based firm is expanding how it puts them to use for real estate firms, investors and developers.

Metro boss Canada’s Outstanding CEO of the Year

Commercial  •  Financial Post

Since Eric La Flèche became CEO 12 years ago, Montreal-based Metro has grown both organically and by acquisition to include 950 food stores plus around 650 drugstores. As a result, La Flèche has been named Canada’s outstanding CEO of the Year for 2020.

Beedie snaps up 13 acres in Langford, B.C.

Commercial  •  Victoria Times Colonist

Burnaby-based developer Beedie has snapped up a 13-acre portion of land it hopes to quickly develop in Langford, B.C. Colliers’ Dominic Ricciuti said the appeal of the land is its versatility and the tight industrial market on Vancouver Island.

Opinion: Downtown will be key to Montreal’s recovery

Residential, Commercial  •  Montreal Gazette

Roger Plamondon, chair of this year’s Montreal Real Estate Forum and president of Broccolini Real Estate Group, painted a clear picture of the real-estate market outlook, and particularly the fate of downtown Montreal.

Real Estate by the Numbers › The impact of monetary policy on stocks, real estate during the pandemic

Volodya Gusak: President, Denciti Development

Sudbury group seeks to redevelop Ledo Hotel

Commercial  •  CBC

A private-sector group in Sudbury has a new vision for the Ledo Hotel. Le Ledo Inc. wants to redevelop the building into a multi-purpose commercial entity — which it says could be a flagship for the city.

Hotel X workers say they’re still owed $1.4 million

Commercial  •  Toronto Star

When Toronto’s swanky Hotel X switched subcontractors in the middle of the pandemic, events manager Sarah MacNeil was cut loose — along with around 200 workers who say they are now owed upwards of $1.4 million in unpaid entitlements.

Nexus a REIT for lovers of yield

Commercial  •  SmallCapPower  •  RENX

Under most circumstances, a more than 10% yield for a security is a red flag for investors of a pending dividend cut. Yet Desjardins Securities analyst Kyle Stanley has a “Buy” rating on units of Nexus REIT (NXR-UN-X).

BiWay co-founder’s death puts resurgence in doubt

Commercial  •  Canadian Grocer

Malcolm Coven, the tenacious co-founder of Canadian bargain store BiWay, has died. He was 91. It’s unclear how his death will impact a planned resurgence of the retail chain. The BiWay $10 Store was set to open later this year.

The tragic story of Honest Ed’s

Commercial  •  Globe and Mail (Sub. required)

REVIEW: There’s No Place Like This Place, Anyplace (Thursday, CBC 8 p.m. on CBC Docs POV) is about Honest Ed’s, that iconic and gloriously eccentric maze of a department store. Specifically, about its closing and what will happen with the site.

Holiday shopping starting earlier than ever

Commercial  •  Toronto Star  •  Globe and Mail  •  Toronto Star

Add last-minute holiday shopping to the list of time-honoured traditions being upended by COVID-19. Retailers are kicking off the holiday season earlier than ever this year in hopes of avoiding big in-store crowds and shipping bottlenecks in November and December.

Service Properties to sell Marriott hotels

Commercial  •  National Real Estate Investor  •  PR Newswire

Service Properties Trust is moving to cancel contracts with Marriott International covering 122 hotels and is selling two dozen of the properties for $153 million. The Newton, Mass.-based REIT will also transfer branding and management of 98 hotels to Sonesta International Hotels Corp.

Once a hotel suite, now an office space

Commercial  •  Toronto Star

Like many hotels pummeled by the pandemic, the InterContinental Times Square is trying to hang on. After tourists stopped arriving this spring, the 607-room property transformed into housing for doctors and nurses treating coronavirus patients.

All 47 Macerich retail properties fully reopened

Commercial  •  PR Newswire

Macerich (MAC-N), one of the nation’s leading owners, operators and developers, announced all 47 of its major retail U.S. properties will soon be fully open for business, now that L.A. County has approved indoor mall reopenings. 

McDonald’s global sales improve in Q3

Commercial  •  Reuters

McDonald’s Corp. (MCD-N) global sales improved in the third quarter and were down just 2.2 per cent year-over-year, as drive-thru orders surged and special promotions lifted sales to double-digit percentage increases in September, the company said on Thursday.

NCC takes next step toward redeveloping LeBreton

Residential, Commercial  •  Ottawa Business Journal

The National Capital Commission has put the wheels back in motion on its plan to redevelop a prime parcel of land at LeBreton Flats. NCC is set to request qualifications to develop the two-and-half-acre site at the end of October.

Housing starts tumbled 20% in September

Residential  •  Toronto Star  •  Canada Newswire

Canada’s homebuilding activity remained historically strong last month even though the Canadian Mortgage and Housing Corporation (CMHC) said the annual pace of starts plunged 20 per cent from August, economists said Thursday.

Calgarians looking for multiple-generational housing

Residential  •  Global News

More Calgarians are looking for homes that can accommodate several generations according to Sarah Johnston, chair of the Calgary Real Estate Board, and COVID-19 may be one of the factors behind the trend.

Snowbirds unable to go south flock to Vancouver Island

Residential  •  Victoria Times Colonist  •  Globe and Mail

Snowbirds who can’t go south of the border because of the pandemic are flocking to Vancouver Island to spend the winter months. Island RV parks are booked up and taking wait lists for the winter.