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Is pickleball about to gobble up 2.6M sq. ft. of CRE space?
Is pickleball about to gobble up 2.6M sq. ft. of CRE space?
Pickleball has grown exponentially in recent years and a major U.S. brand is now expanding into Canada. If TPC Development Corp.'s plan is fully realized, it will result in the creation of several million square feet of facilities nationwide.
WeWork, IWG add new partners, grow Canadian flex office
Two major international co-working companies, WeWork and International Workplace Group, are expanding their presence in Canada through partnership agreements. WeWork has launched its Co-working Partner Network, an affiliate program of third-party workspaces, with a partnership with Vast Coworking Group.
Rogers Communications nears $7 billion financing deal
Rogers Communications says it’s close to a $7 billion structured equity investment to finance parts of its network and reduce its debt load. The Toronto-based company said it has a non-binding term sheet with an unnamed global financial investor.
Ontario developer bets on house-building robot
Over years of brainstorming and testing, Horizon Legacy Construction Automation has adapted a robotic arm to erect concrete-like walls with speed and precision. Now, the robot is being used on a 26-rental development in Gananoque, just east of Kingston.
Modine opens facility in Calgary to meet data centre demands
Modine (MOD-N), a diversified global leader in thermal management technology and solutions, has announced the opening of a new 250,000-square-foot facility in Calgary. The facility will manufacture Airedale by Modine precision cooling equipment.
Gay Lea to sell 137-year-old dairy to Mississauga company
A decade after Gay Lea Foods bought Hewitt’s Dairy, the Hagersville institution is slated to change ownership once again. The company entered into a non-binding letter of intent to sell the 137-year-old dairy to Mississauga-based Dairy Fountain.
Bestbuy shareholder Frontier expands Alberta footprint
Frontier Automotive & Industrial Supplies has expanded. Located in La Crete, Alta., almost 700 km north of Edmonton, the location is now 30,000 square feet and includes a 10,000-square-foot sales floor and a 20,000-square-foot warehouse.
Maxi to focus on smaller properties with 34-store expansion
This year Maxi will open 34 grocery stores in Quebec. To expand, Maxi decided to think small. The discount chain is now setting up in smaller spaces, often without parking.
5,300-unit community proposed in Mississauga
A proposal for a Mississauage redevelopment called Rangeview Estates would transform a 21.9-hectare industrial business enclave into a mixed-use neighbourhood with approximately 5,300 residential units supported by retail and service businesses, parkland and new public streets.
Plan for 37-storey tower and new hotel in North Vancouver
At a meeting last week, the District of North Vancouver council narrowly voted to send a proposal from Chard Development for a 37-storey rental building and adjacent 12-storey hotel to a public hearing.
Oakville calls for delay on highrise project near GO station
Oakville Mayor Rob Burton has called for Distrikt Developments and the province of Ontario to postpone the April 8 Ontario Land Tribunal hearing on its applications to build highrise towers of 45 and 61 storeys opposite the Oakville GO station.
Cambridge affordable housing project closer to fruition
The Region of Waterloo is taking proposals for a mixed-income housing development in Cambridge. The development was greenlit in October 2023 with a requirement that 30 per cent of units be offered at affordable rent for 40 years.
Shortage of student housing is a strain on housing market
OPINION - A shortage of student housing puts further pressure on the heated housing market and could jeopardize one of the country's few remaining competitive advantages: our highly educated work force.
Tax authorities demand $2.6 million from Guzzo Cinemas
In addition to its bankers, the government is also seeking money from the Guzzo cinema chain. Revenu Québec is demanding more than $2.6 million from the company. The small chain already faces $60 million in claims from financiers.
Camrose Casino owner ordered into receivership
An Alberta court has ordered the company that owns Camrose Casino into receivership. “We’re all a little flummoxed by this,” said Howard Pechet, president of Mayfield Investments Ltd., the casino’s owner.
BMO analyst’s top REIT picks as earnings season kicks off
BMO real estate analyst Michael Markidis detailed his top overall ideas in the sector as earnings season begins today with First Capital REIT, Broadly, target prices are up for retail and industrial names, he said.
Commercial property's moment of truth
Prices across commercial property, a category that includes shops, offices, hotels and warehouses, have fallen about 20 per cent from 2022 peaks, analysts estimate. But predictions of a crash akin to the 2008-10 financial crisis have yet to materialize.
Vantage Data Centers breaks ground on 192MW campus
Vantage Data Centers, a global provider of hyperscale data centre campuses, has announced its entrance into the central Ohio market. Over US$2 billion will be invested in the new project, with more than 1,500 individuals employed.
Nexus gets $765 million financing for Big Lots acquisition
A U.S. federal judge approved Nexus Capital Management as the lead bidder to acquire Big Lots after the private equity firm obtained US$765 million in committed financing to support its proposed acquisition of the discount retailer out of bankruptcy.
Babylonian pyramid office in California gets $177M offer
A Babylonian-inspired pyramid that turned out to be a white elephant is now set for demolition in one of California’s priciest real estate markets. A bidder whose name hasn’t yet been revealed offered US$177 million for the building.
Industry Events
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Canada Real Estate Auctions
Dec 01 2024
to Dec 31 2024
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Global Property Market
Dec 03 2024
Metro Toronto Convention Centre, South Building
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Toronto Real Estate Forum
Dec 04 2024
to Dec 05 2024
Metro Toronto Convention Centre, South Building
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Quebec Apartment Investment Conference
Feb 19 2025
Palais des congrès de Montréal
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RealCapital
Feb 25 2025
Metro Toronto Convention Centre, North Building
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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