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Greater Montreal Area’s Top-10 CRE transactions of 2024

5 days ago

Greater Montreal Area’s Top-10 CRE transactions of 2024

Montreal’s commercial real estate market improved in 2024. While the momentum is expected to continue this year much uncertainty exists about the future for interest rates, Canada's federal election, and the threat of tariffs and U.S. trade policies.

Wesgroup launches 1 Market Square in Metro Vancouver

One year after submitting its development permit application to the City of Port Moody in Greater Vancouver, Wesgroup Properties is launching sales for its first condo tower, 1 Market Square, at the master-planned Inlet District.

“An opportunity for logistics in Quebec”

For several years, Amazon has been delivering more from A to Z thanks to its distribution, sorting and delivery centres. But the announcement of their closure means that work will have to be taken over by other companies.

Company scraps planned London plant citing tariff threat

The threat of steep U.S. tariffs on Canadian-made goods has shut down one London manufacturing plant before it opened. China-based Maple Armor Group announced in August it bought 14 acres of land in London to build an alarm manufacturing plant.

JLL continues to ride wave of strong industrial RE market

Professionals specializing in industrial real estate had a really good 2024 and, according to the team at JLL, the pace is continuing. There was an increase in occupied space over the past 12 months in the Greater Calgary Area.

New Yaletown hotel opens in former office space

The Yaletown district of downtown Vancouver recently saw the opening of a new chic boutique hotel under the “aparthotel” concept. Smithe House hotel is located at 225 Smithe Street at the northwest corner of the intersection of Smithe and Cambie streets.

Office workers are back, and focused on wellbeing

GWLRA's recent office tenant survey revealed that tenants are generally back to the office. New from past surveys, tenants especially appreciated building amenities focused on their personal security as well as health and wellbeing. 

Sponsored by: GWL Realty Advisors

CPP Investments, MGRV launch $500M Korean rental JV

Canada Pension Plan Investment Board and MGRV, a leading Korean rental housing provider, have announced a $500 million joint venture to develop rental housing projects in Korea. CPP Investments will hold 95 per cent of the venture.

A peek inside the $128M St. Lawrence Market North building

Toronto residents have waited over 25 years for the new St. Lawrence Market North building, and the public is getting a rare glimpse inside the shining landmark at 92 Front St. East as construction races for the finish line.

Peavey Mart closing 24 locations in Ontario, N.S.

Peavey Mart, a retailer specializing in animal feed, fencing and farm gear will be closing 23 locations Ontario and one in Nova Scotia, the company announced as it restructures to address market challenges. 

Dozens of properties listed for sale in Fraser Valley, B.C.

The Fraser Valley’s historic downtowns are more vibrant than a decade ago, but as 2025 dawns, prominent chunks of property in Chilliwack, Abbotsford and Mission’s cores are waiting for new owners — and potentially setting the stage for development and change.

Carmens Group purchases award-winning Ontario winery

Carmens Group has acquired the Good Earth Food and Wine Company, marking the company’s second expansion outside Hamilton in the last three years. The winery is on 50-plus acres of land situated between Lake Ontario and the Niagara Escarpment.

Why building higher in Vancouver isn't always possible

The City of Vancouver’s decision to relax view-protection policies prompted a flurry of developers to say they’ll seek to build taller, but some in the industry question how much of this new density will actually be built.

500,000 fewer homes needed in Canada by 2035: Oxford

Canada’s population is expected to decline to 41.1 million in 2026 from 41.3 million in 2024, marking its first decline since Confederation in 1867. As a result, Oxford Economics has revised its household formation forecast.

It’s not an affordability crisis, it’s a cost-of-delivery crisis

OPINION - Prices are soaring and demand (until recently) has been relentless yet projects are stalling. The blame often falls on high land values or developer greed, but the real culprit is the staggering cost of delivering new homes.

Coalition wants recycled concrete, asphalt in infra projects

An Ontario construction industry coalition is calling for governments to mandate a minimum amount of recycled concrete and asphalt to be used in civil infrastructure projects, saying it will cut carbon emissions and costs.

KKR combines $157 billion infrastructure, real estate businesses

KKR & Co. is moving its infrastructure and real estate assets under the same leadership as it looks to capitalize on converging opportunities between the rapidly expanding investing units. Raj Agrawal will become global head of real assets. 

Host explores sales for more than $1 billion of hotels

Host Hotels & Resorts is exploring the sale of more than 10 properties as the lodging owner seeks to trim its holdings. Host is working with an adviser to market a portfolio valued at more than US$1 billion.

IPS, Meyer deliver $800M Biopharma R&D project

In one of the largest recent investments in biopharmaceutical manufacturing in the U.S., global oncology company BeiGene has completed its US$800 million, 400,000-square-foot biologics manufacturing and clinical development centre in Hopewell, N.J.

Atlanta office occupiers increasingly buying their buildings

As Atlanta’s office struggles continue to deter investors from buying them, one group is swooping in: office tenants. An increasing number of office renters have turned into office owners, often by outbidding bread-and-butter office investors but still grabbing a discount.

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