RoseFellow invests $205M in spec Mtl.-area industrial

RENX  Commercial  •  Industrial  •  Greater Montreal

Montreal-based RoseFellow will invest $205 million to build three new industrial developments on spec in the Montreal-area cities of Laval, Mascouche and Terrebonne. RoseFellow will invest an additional $72 million to build its second rental project in the Montreal borough of Anjou.

Groupe Quint acquires 1M-sq.-ft. U.S. distribution centre

Commercial  •  Canada Newswire  •  RENX

Montreal-based Groupe Quint has acquired an industrial property in Warren, Mich., totaling 1,056,890 square feet. The class-A distribution centre is fully vacant and offers clear heights of 38 feet throughout, 212 truck-level doors and has a unique 100-foot high automated warehousing system.

True North acquires Victoria office building for $22M

Commercial  •  Canada Newswire

True North Commercial REIT (TNT-UN-T) announced it has agreed to acquire an office property located at 1112 Fort St. in Victoria for approximately $22 million.  The six-storey building features 52,000 rentable square feet with 11 surface parking stalls and 32 underground parking stalls.

The People Space › People Space: KingSett, Epic, C&W, Colliers name new executives

Don Wilcox: Managing Editor

3C Lakeshore office to anchor TO waterfront community

Residential, Commercial  •  Globe and Mail

3C Lakeshore Inc., a consortium that includes Cityzen Development Group, Castlepoint Numa Inc. and Continental Ventures Realty, is bringing an office and retail building to a site in the Toronto harbour community that will include 12 buildings totalling 2.5 million square feet.

Downtown Montreal businesses bank on 2022 upswing

Commercial  •  La Presse  •  La Presse  •  La Presse

SERIES: While still a long way from the boom years when tourists swarmed Montreal, the start of a return to normal is scheduled for 2022 when the Palais des congrès de Montréal is due to accommodate 85,000 delegates, including 65,000 from abroad.

Sponsored by Yardi Three opportunities residential owners are unlocking

If you’re still feeling the impact of the pandemic, you’re not alone. Disruption caused by the virus has affected all business sectors, perhaps none more than property management as the global population of renters was told to “stay at home.”

Working with Winnipeg’s oldest properties takes patience

Residential  •  Winnipeg Free Press

Mark and Shelley Buleziuk, whose company Space2 has been buying and redeveloping aged buildings in Winnipeg’s Exchange District since 2001, soon plan for its redeveloped Thomas Scott Memorial Orange Hall‘s 77 residential units to be occupied. It’s been a long haul.

The future is ‘work from anywhere’

Commercial  •  Financial Post

Lightspeed Commerce employees don’t just have the choice to keep working from home or return to the office post-pandemic: the company recently rolled out a policy allowing employees to spend up to two months working remotely from another country.

Michael Medline: ‘I’m sick of talking about COVID’

Commercial  •  Canadian Grocer

Though COVID continues to impact shopper behaviour both in-store and online, Empire CEO Michael Medline says he’s tired of talking about it. “I think it’s overshadowing the huge change at Empire Company that we’ve seen . . .,” said Medline.

Manulife mandating COVID vaccines for employees

Commercial  •  Financial Post  •  La Presse  •  Canada Newswire

Manulife Financial Corp. (MFC-T) will require employees in Canada to provide proof of their vaccination status by the end of October and will force unvaccinated staff to undergo regular COVID-19 testing before they work in its offices.

Trez Capital introduces private real estate fund

Residential, Commercial  •  Canada Newswire

The Trez Capital Private Real Estate Fund, which launched with an initial capital raise of just over $20,000,000, is a long-term hold fund providing qualified Canadian investors access to joint-venture real estate investments with market-leading developers across Canada and the U.S.

After failed $3.3B deal, Soho China trading falls 35%

Commercial  •  Fortune  •  Forbes

Soho China is facing mounting challenges, tightening regulatory scrutiny, and now an uncertain future after Blackstone called off its $3.3 billion deal to acquire the company, one of China’s highest-profile real estate firms which plunged 35% in Hong Kong trading.

CBRE Caledon acquires majority interest in tower firm

Commercial  •  CBRE Caledon Capital Management media release

CBRE Caledon Capital Management Inc. has entered into a definitive agreement to acquire a majority equity interest in CitySwitch Tower Holdings, LLC, a leading build-to-suit wireless tower developer and operator, from funds managed by American Infrastructure Funds and other shareholders.

Virus (not vaccines) drives U.S. office occupancy

Commercial  •  CP Executive  •  Globest.com

President Biden’s plans to order private-sector employers of 100 or more to mandate vaccines or require regular testing will not directly impact occupancy as employers are basing their back-to-office decisions on the arc of the virus rather than on vaccination rates.

The World Trade Center still a work in progress

Commercial  •  Forbes  •  Daily Commercial News  •  Daily Commercial News

Twenty years and $20 billion after 9/11, four of the six towers planned on the former Ground Zero site are now open and nearly fully leased, including the centerpiece One World Trade Center.

Report shows evictions rampant in Vancouver

Residential  •  Globe and Mail (Sub. required)  •  Vancouver Sun  •  Business In Vancouver

A University of B.C. study shows that 10.5 per cent of renter households in Metro Vancouver experienced an eviction as the reason for their last move. That compares to 5.8 per cent in Toronto and 4.2 per cent in Montreal.

House flipping has lost its cachet in Vancouver

Residential  •  Vancouver Sun

If house prices flatten, flippers will swallow the added cost of materials and labour, squeezing profits. “Flippers will be aware that with interest rates eventually starting to rise, it could be a risky business,” said Holywell Properties’ Adam Major.

Edmonton project offers rental for urban professionals

Residential  •  Edmonton Journal

The Jameson may be one of the latest purpose-built rental projects to get underway in Edmonton in recent months, but the 140-unit concrete project seeks to feel more like home, or more specifically, like a single-detached home.

Holborn to speed up B.C. social housing project

Residential  •  CBC  •  Globe and Mail  •  Business In Vancouver

After more than a decade of the property sitting empty, the province, the city and developer Holborn Properties have made a formal agreement to accelerate construction on hundreds of units of social housing on the Little Mountain lands in Vancouver.