The past year has seen flexible office space provide IWG face very serious challenges, leading to shifts in its operations and strategies. However, its management remains optimistic about what’s to come post-COVID-19.
Montreal proptech startup SquareFeet.ai says its use of artificial intelligence (AI) is helping developers more accurately price their new condo or rental projects and maximize revenues.
Calgary’s downtown office vacancy increased by 2.8 per cent to 32.3 per cent in Q1 2021, CBRE reported Wednesday, while noting mergers and acquisition activity “is anticipated to continue throughout the first half of 2021 and will drive sublease supply to new highs.”
Dynasty Power has purchased an architecturally distinctive building in the heart of downtown Calgary for its new corporate headquarters. The building, at the corner of 8th Avenue and 4th Street S.W., is a 45,000-square-foot, four-storey landmark it plans to renovate.
Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC) said on Wednesday they are extending work-from-home arrangements for employees to until at least mid-2021 as Canada battles a surge in new coronavirus cases driven by new variants.
Ivanhoé Cambridge and GID, a leading integrated real estate company with $2 billion in assets under management, announced the creation of GID Industrial, an investment platform to target industrial assets in growing markets across the United States.
Brookfield Property Partners (BPY-UN-T) could reap a profit of as much as $1.5 billion when it sells London’s one-million-square-foot 100 Bishopsgate later this year. Brookfield will seek as much as $2.7 billion, making it the most expensive single building in U.K. history.
Mikhail Holdings, for the first time in 30 years, is building a retail/commercial development on speculation. It’s a sign of optimism in Windsor’s future that Mikhail brothers Joe, John and Lou, are forging ahead with two new buildings totalling 25,000 square feet.
The Beer Store, majority owned by Molson Coors and Labatt, had an operating loss of $50.7 million in 2020, as competition from grocery stores and restaurant bottle shops grew, and keg sales were crushed by COVID-19 restrictions.
The Rossy family is once again selling shares of Dollarama Inc. (DOL-T). This time, the CEO of the Montreal retailer, Neil Rossy, the family’s private holding company, and the Rossy Foundation are selling 2,200,000 common shares for a total of $125 million.
• RBC blog
A Canadian strategy, one built to leverage existing strengths, coordinate with allies and establish new footholds in N.A. supply chains could usher in a new phase of economic growth. It could reinvigorate Canada’s export sector and regain lost U.S. market.
“COVID . . . turned out in specific sectors to be somewhat of a turning point and made it more busy for us,” said Andy Berube, vice-president of Stack Modular, a manufacturer of large-scale, steel frame modular construction projects.
Developer Darius Smith has launched ASJ Homes, a new leader in modern shipping container houses. Smith is also introducing new cryptocurrency Container Tokens, which will be used to raise funds for a new chain of shipping container boutique micro hotels.
Dalfen Industrial announced the purchase of two industrial properties in Henderson, Nev., – a suburb of Las Vegas. Henderson Distribution Center South and Henderson Distribution Center North total over 263,000 square feet in the highly sought-after Southeast Las Vegas/Henderson submarket.
Manulife Hong Kong announced it has signed a lease agreement for approximately 145,000 square feet of grade-A office space at International Trade Tower (ITT) in Kowloon East. This is Hong Kong’s largest grade-A office leasing deal since July 2019.
The Office of the Superintendent of Financial Institutions (OSFI) will take another crack at changing the mortgage stress test as economists and some bank chief executives call on policy makers to deal with runaway housing prices.
The economic blow of the pandemic appears to be finally hitting home for average Canadians. The number of Canadians close to insolvency reached a five-year high in the latest MNP Consumer Debt Index out this morning.
Real estate agents staging homes for sale have long had a checklist of table-stakes features mainstream buyers will be looking for, but as we enter year two of living under the pandemic there’s a new must-have: A Peloton.
Toronto-area realtors say the flow of people out of the city has diminished and some buyers are once again feeling the pull towards downtown. At the same time, the intense bidding contests for detached houses are calming in some areas.