A 3.4-acre redevelopment site across from the waterfront and Olympic speed skating oval in Richmond, B.C., has been sold to Landa Oval Holdings by Bene Group. The property is currently the site of the Keybridge Centre at 6851-6871 Elmbridge Way.
Two varying architectural concepts have emerged for Holborn Group‘s Hudson’s Bay parkade site in downtown Vancouver, with each illustrating a world-class, mixed-use redevelopment concept that brings a wide range of uses and an immense scale to each of those uses.
WeWork has named Sandeep Mathrani – former CEO of Brookfield Property Partners’ (BPY.UN-T) retail group – as its new chief executive, the company announced Saturday. The move comes as the company attempts to rebuild its reputation following its ill-fated IPO last year.
The total return on investment of all assets measured by the MSCI/REALPAC Canada Annual Property Index slipped to 6.68 per cent in 2019 from 7.3 per cent in 2018. It measures unlevered total returns of directly held, standing property investments.
The new Defence department headquarters at Carling Avenue has been listed in the federal government’s building directory as being in poor shape despite $537 million spent on upgrading the buildings at that location over the last two years.
Torstar Corp. (TS-B-T) has signed a deal to sell the land and building used by the Hamilton Spectator newspaper for $25.5 million. The sale follows a move by Torstar last spring to close its Hamilton printing and mailroom operations.
Director of Engineering, North America, WiredScore
No decision has been made about the future of dozens of Strategic Group‘s downtown Calgary office buildings placed into receivership in December. Receiver Alvarez & Marsal Canada did not respond to a question about whether all the properties would be sold.
Michigan-based chemical producer Dow Inc. has approved an expansion of its Fort Saskatchewan, Alta., petrochemical facilities expected to cost between $200 million and $225 million US.
Regina’s recently approved Yards Neighbourhood Plan lays out general guidelines for development, including a “mix of residential, shopping and entertainment opportunities” and buildings as high as 10 storeys rising on the former Canadian Pacific Railway yard and adjacent lands.
Cushman & Wakefield’s 2020 North American Industrial Outlook report indicates the sector is expected to remain firing on all cylinders for the foreseeable future. The brokerage firm forecasts North American industrial absorption in 2020-’21 will be a healthy 459.9 million square feet.
Alberta-based cannabis producer Sundial Growers announced the immediate resignation of CEO Torsten Kuenzlen and COO Brian Harriman, the latest indication of mounting trouble within the recently legalized industry. The company also said Ted Hellard has stepped down as executive chairman.
The assessed value of all single-room occupancy (SRO) hotel buildings in Vancouver increased by 84 per cent during the last five years. And, there has been a string of sales in recent months, with some trading hands at yet higher prices.
Cineworld Group’s friendly deal to acquire Cineplex (CGX-T) has cleared another hurdle, with a “go-shop” period ending without a superior offer being made for the Canadian movie theatre company. Cineplex was allowed to solicit alternative bids to the $34 per share.
HBC (HBC-T) chairman Richard Baker was in talks about selling its stake in its European business when he started to formulate his own plan to take the owner of Saks Fifth Avenue private, according to a regulatory filing on Friday.
A consortium of buyers, including mall owners Simon Property Group and Brookfield Property Partners (BPY-UN-T) are bidding $81 million for Forever 21, the ubiquitous mall staple that filed for bankruptcy protection in September.
Scotiabank (BNS-T) president and CEO Brian Porter said the housing supply needs to be matched with Canada’s growing population and success in attracting immigrants, which he called “the envy of the world.”
A shooting at a downtown Toronto condo building that left three men dead and two others injured has renewed calls for stricter regulations on Airbnb rentals and private residences being used as “ghost hotels.”
Cenovus Energy Inc. has pledged $50 million to build homes in six Indigenous communities near its oilsands projects in northern Alberta. The investment, the company says, is a way to “contribute to reconciliation with Indigenous peoples.”
Berlin’s legislature passed a package of rent regulations on Thursday that will cap revenues for landlords and freeze rents for five years. A spokesperson for Chancellor Angela Merkel’s Christian Democratic Union party plans to challenge the measure, according to Bloomberg.