Montreal industrial: ‘I’ve never seen such a hot market…’

RENX  Commercial  •  Industrial  •  Greater Montreal

Tenants must be prepared to settle for less, drive long distances and pay more than expected in Montreal’s sizzling industrial market. Those were among the trends discussed during an industrial panel at the Montreal Real Estate Strategy & Leasing Conference.

Almega, Windsor buy Mississauga site for redevelopment

RENX  Residential, Commercial  •  Retail, Land  •  Toronto / GTA

Almega Co. and Windsor Private Capital have partnered to acquire a Mississauga strip mall with the intention of turning it into a mixed-use community with 900 multifamily units.

H&R REIT closes on $1.47B sale transaction

Commercial  •  Canada Newswire  •  RENX

H&R REIT (HR-UN-T) announced it has closed the transactions previously announced involving the two-million-square-foot The Bow tower in Calgary and the sale of the 1.1 million-square-foot Bell office campus in Mississauga, for combined gross proceeds of approximately $1.47 billion.

Allied updates office leasing for T.O. properties

Commercial  •  Globe Newswire  •  RENX

Allied Properties REIT (AP-UN-T) has leased all 93,134 square feet of GLA in QRC West, Phase II, to an American educational institution for 12 years. Allied and RioCan are also finalizing lease transactions for an additional 122,809 square feet at The Well.

End of pandemic won’t solve Calgary’s office problem

Commercial  •  CBC  •  RENX

CBRE’s Greg Kwong said downtown Calgary’s vacancy situation won’t be fixed when the pandemic ends. “We have got an oil business or an energy business that is severely depressed by lower oil prices,” he said.

Co-working spaces could boost downtown Winnipeg

Commercial  •  CBC  •  CBC

With the workforce still a fraction of pre-pandemic levels, flexible co-working spaces could help revitalize downtown Winnipeg in the meantime. “This is an evolution in how people are going to work,” said Jason Abbott of Launch Coworking Space.

Sponsored by First National Financial LP First National introduces game-changing conventional term program

First National is differentiated as a commercial property mortgage lender not just because of its size – with over $35 billion under management – but because of its ability to provide both insured and conventional financings …

Ottawa proving popular among industrial investors

Commercial  •  Ottawa Business Journal  •  RENX

With e-commerce fuelling a spike in demand for warehouse space, real estate experts including CBRE Ottawa managing director Louis Karam say Ottawa’s growing prominence as a distribution hub is making it a go-to destination for all types of industrial investors.

Surrey industrial park one step closer

Commercial  •  CBC

A large area of rural land in South Surrey could soon have a land-use change that would allow for development. The area is directly south of the Campbell Heights industrial business park at the border between Surrey and Langley.

Real Estate with Howard Drukarsh › Podcast: Stefan Swanepoel with host Howard Drukarsh

Howard Drukarsh: Co-founder, Right at Home Realty

Stella-Jones counting on infrastructure boom

Commercial  •  La Presse

North American leader in industrial pressure-treated wood products, Stella-Jones (SJ-T) benefited greatly from residential renovation work, despite the skyrocketing price of treated wood. The Montreal manufacturer is now counting on the next wave of infrastructure projects for future success.

Tech firms hunt space outside of pricey Vancouver

Commercial  •  Western Investor

As the global hunt for tech talent intensifies amid the pandemic, smaller tech hubs around B.C. are poised to serve as a draw for workers – remote or otherwise – seeking shelter from Vancouver’s high costs.

Oxford invests $517M in Danish, French logistics

Commercial  •  IPE Real Assets  •  Property Funds World  •  RENX

Oxford Properties Group has acquired $517 million Cdn worth of logistics and industrial assets in Denmark and France from M7 Real Estate funds. Oxford said it has bought a 2.41-million-square-foot Danish portfolio, comprising 27 assets and a 1.82-million-square-foot French portfolio of 30 assets.

WeWork done cutting locations, projects $1.5B loss

Commercial  •  Bisnow

WeWork has been systematically culling its portfolio for the better part of a year, exiting and adjusting leases, but it said that process is now mostly finished. Since the start of 2020, WeWork has exited 150 leases and undertaken 350 lease amendments.

Amazon to allow many to work remotely indefinitely

Commercial  •  Seattle Times

Amazon will allow many tech and corporate workers to continue working remotely indefinitely as long as they are able to commute to the office when necessary, according to a blog posted Monday.

Another Chinese developer struggling to pay its debts

Residential, Commercial  •  CNN  •  Globe and Mail (Sub. required)  •  Al Jazeera

China’s property crisis is ensnaring yet another developer. Modern Land is asking investors for more time to pay back a $250 million bond, according to a company filing with the Hong Kong Stock Exchange on Monday. The payment was due Oct. 25.

41st annual BILD Awards winners announced

Residential  •  Urban Toronto  •  Globe Newswire  •  Globe Newswire

The annual BILD Awards have recognized excellence in the design, construction, marketing and sales of new homes in the Greater Toronto Area. BILD presented 46 awards in the categories of marketing, architecture, people and sales, and in the prestigious Pinnacle category.

$2,225 considered an ‘affordable’ rent in Montreal: CMHC

Residential  •  La Presse

Can a rent of $2,225 per month be considered “affordable” in Greater Montreal? CMHC has granted more than $350 million in low-interest loans to Quebec developers (and nearly $5 billion across the country), on condition they keep a portion of their homes affordable.

A lesson in building, protecting affordable homes

Residential  •  Globe and Mail (Sub. required)

“The lack of affordable housing is a symptom of a system that is out of balance,” Jonathan Rose Companies‘ Jonathan Rose says. He also disagrees that if enough market-rate supply is built, prices will drop and affordability will be attained.

Wealth largest factor in Van. home sales: Study

Residential  •  Globe and Mail (Sub. required)

Wealth, not annual income, is driving purchases of costly homes by some of the lowest-paid workers in B.C., according to a report from Canadian Housing Statistics Program. The gap between home prices and local wages is stark in the province.