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Canada's industrial sector still has room to grow: RealCapital panel
Canadian industrial still has room to grow: RealCapital panel
While there are concerns about potential headwinds moving forward, industrial remains the top-performing commercial real estate asset class in Canada. That is expected to continue, according to a three-person panel of sector experts at RealCapital in Toronto.
Nordstrom cutting 2,500 jobs, closing all Canadian stores
Nordstrom (JWN-N) is closing all of its Canadian stores and cutting 2,500 jobs as it winds down operations in Canada. The Seattle-based retailer has six Nordstrom and seven Nordstrom Rack stores in Canada, which will be shuttered by late June.
GTA housing market sees record drop in prices
Exactly one year after the real estate market peaked, GTA home values have plunged a record 17.9 per cent annually since rising interest rates put house hungry consumers on hold, according to the Toronto Regional Real Estate Board (TRREB).
Condo developers contemplate eliminating balconies
Soaring construction costs and a new emphasis on the carbon footprints of buildings are pushing some condo developers in Canada to contemplate what was once unthinkable: eliminating balconies, says Ben Myers, president and owner of Toronto-based Bullpen Research & Consulting Inc.
Co-operators targets green records with new HQ
The Co-operators Group has earned the Zero-Carbon Building – Design standard from the CAGBC for its new headquarters under construction in Guelph, Ont. It is the first step in what Co-operators hopes will be a record for green building certifications.
 | The Industrial Real Estate Show Warehouse racking 101Chad GriffithsPartner, NAI Commercial |
Return-to-office fight not over yet
In Canada, 81 per cent of workers say being able to work from home is a factor in determining whether or not they stay at a job, according to the latest Cisco Systems Inc. hybrid-work survey.
Being a port city puts wind in sails of Halifax's CRE sector
The buzzword to apply to the Halifax office space market this year is “dynamic,” says commercial real estate firm CBRE’s just-released Canada Real Estate Market Outlook. The outlook anticipates office vacancy falling in the city.
Metrolinx abandons rail yard plan in Don Valley
Metrolinx has abandoned controversial plans to build a train storage facility in Toronto’s Don Valley, a move welcomed by opponents who argued the plan would damage the environment and hurt a rare piece of downtown parkland.
IKEA proposes 50% expansion of Richmond store
IKEA has proposed expanding its Richmond, B.C., store with a two-storey wing with a floor area of 162,400 square feet. This would grow the building to a total floor area of more than 507,000 square feet.
Nexus enters into unsecured credit facilities totalling $375M
Nexus Industrial REIT (NXR-UN-T) has entered into senior unsecured credit facilities totalling $375 million. The unsecured facilities have been arranged through a syndicate of six banks with BMO Capital Markets acting as lead arranger and sole bookrunner.
REOC fourth-quarter financial results
Chartwell Retirement Residences, (CSH-UN-T), Canada Newswire
Extendicare Inc., (EXE-T), Globe Newswire
Genesis Land Development Corp., (GDC-T), Canada Newswire
Morguard Corp., (MRC-T), Canada Newswire
Parkland Corp., (PKI-T), Canada Newswire
Tricon Residential, (TCN-T), Business Wire
Amazon scales back warehouse portfolio — again
Since announcing 66 impacted facilities in September, e-commerce giant Amazon (AMZN-Q) has now canceled, closed or delayed another 33 warehouses, bringing the total to 99, according to new data from MWPVL International reported by Supply Chain Dive.
Blackstone defaults on $562M Nordic property-backed CMBS
Blackstone Inc. defaulted on a $562 million US bond backed by a portfolio of Finnish offices and stores as rising interest rates hit European property values. Blackstone, which acquired landlord Sponda Oy in 2018, sought an extension from noteholders.
U.S. hotel brands, REITs beat expectations
Hotel owners and brands including Hilton, Hyatt and Marriott are still riding the resurgent wave of global travel, and even amid inflation and concerns over economic turmoil, many are already fully recovered from the pandemic.
U.S. home prices fall annually for first time in a decade
U.S. home-sale prices have fallen from a year earlier for the first time in more than a decade, according to a new report from Redfin. The milestone comes as seven per cent mortgage rates sideline buyers.
U.S. provides opportunities for real estate investments: Trez
For investors, real estate may not sound like a great investment today, given rising interest rates. However, some - including Dean Kirkham, president/chief operating officer at Trez Capital in Vancouver - argue it’s an attractive time to buy, particularly the lenders.
Home prices to drop 12% in 2023, but remain unaffordable
The drop in Canadian home prices this year will be steeper than forecast three months ago but mild compared with a historic run-up during COVID-19, leaving many first-time buyers still priced out of the market, a Reuters poll showed.
Victoria real estate picks up as spring approaches
The Greater Victoria market has cooled to a “less pressured environment,” the Victoria Real Estate Board chair said Wednesday. February’s benchmark price for a single-family home in the region was $1,247,200, below January’s price of $1,251,100.
Vancouver approves 10.7% property tax increase
The City of Vancouver passed its latest budget Tuesday evening with a 10.7 per cent increase to the average property tax — a record high this century. The city's original draft budget laid out an increase of 9.7 per cent.
Industry Events
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Western Canada Apartment Investment Conference
May 07 2024
Vancouver
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Edmonton Real Estate Forum
May 08 2024
Edmonton Convention Centre
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Land & Development Conference
May 28 2024
Metro Toronto Convention Centre
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Montreal Real Estate Forum
Jun 06 2024
Montreal
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Southwestern Ont. Real Estate Forum
Jun 13 2024
RBC Place London
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