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Toyota plans new office, two distribution centres

2 weeks ago

Toyota plans new office, two distribution centres

Toyota Canada Inc. plans to invest $300 million in Canada to build 657,000 square feet of real estate over the next three years, with a new Toronto head office and parts distribution centres in Calgary and Richmond, B.C.

Calgary's Wood Centre office building sold to R2 Capital

Another day, another Calgary office acquisition. As the city’s office ownership landscape continues to shift, the latest property to sell is the class-A Wood Centre, in the city’s northeast corridor. It has been acquired by R2 Capital Partners.

$500M project breathes new life into Saint John waterfront

The Fundy Quay, a mixed-use project located on a six-acre former Canadian Coast Guard site, is a pivotal part of the Saint John waterfront revitalization. It will consist of five residential buildings up to 19 storeys and retail space.

City leases 50,000 sq. ft. of office in downtown Vancouver

Vancouver’s municipal government has leased 51,608 sq. ft. of office space at 1125 Howe St., which is a 1985-built, 14-storey office building at the southwest corner of the intersection of Helmcken Street and Howe Street.

National office vacancy rate falls to 13.6%: report

Canada’s office and industrial property markets are tightening for the first time since the pandemic, a shift that could narrow employers’ options for hybrid workplaces and distribution hubs. The national office vacancy rate fell 100 basis points year‑over‑year.

Office proposal in Toronto scrapped for boutique hotel

A bold vision to add office space and a retractable-roof restaurant to an old Toronto building is dead. However, a new plan has already emerged in its place, that would bring a boutique hotel to a tourist-heavy part of town.

Avery Group pursues asset sales for B.C. holdings

A portfolio of industrial, hospitality and agri-tech assets in Okanagan Falls, including the 114-acre Avery Business Park, is on the market as the owners execute a long-standing exit strategy.

Investor demand drives Kelowna retail sale

Commercial real estate has continued to attract investor demand in Kelowna. Eight commercial retail units in the base of the One Water condo building on Sunset Drive have changed hands in a deal worth “north of $10 million.” 

Péladeau buys Colabor Group out of bankruptcy protection

Billionaire Pierre Karl Péladeau is buying Quebec food distributor Colabor Group Inc. out of bankruptcy protection, adding to a stable of assets in the province that now includes the Montreal Alouettes football team and transport company Téo Taxi.

Walmart closes a third store in Quebec in two weeks

After announcing the closures of its Côte-des-Neiges and Pointe-aux-Trembles stores, Walmart said Monday it will also close its Dorval branch at 400 Dorval Ave. next summer. Present in Quebec since 1994, Walmart operates 70 stores in the province.

Farm Boy president on Ontario expansion

Shawn Linton, president and general manager of Farm Boy Company Inc. discusses the grocery chain's expansion across Ontario with the opening of a Collingwood store. It’s the company’s 52nd store in Ontario.

Tribunal battle over Hamilton urban expansion underway

A provincial tribunal battle over whether to expand Hamilton’s urban area with plans for tens of thousands of homes on rural land has begun after years of public debate and shifting provincial legislation.

Ottawa to waive $250M dev. charges, taxes for housing deal

The City of Ottawa will waive up to $250 million in development charges, fees and property taxes to support the construction of hundreds of affordable homes on surplus federal lands, as part of a landmark federal-municipal housing agreement.

1,200 new units planned as Thunder Bay sells surplus lands

Thunder Bay’s director of development services says the sale of four city-owned properties marks a milestone in the community’s efforts to address the housing shortage. These vacant properties have been designated as surplus lands.

'Green' real estate can translate into financial gains

An organization working to accelerate decarbonization in Quebec is publishing a white paper aimed at demonstrating a real estate portfolio which takes into account sustainability and climate resilience is also synonymous with financial sustainability.  

Stock market wobbles fuel $28B of Q1 CRE M&A

The commercial real estate M&A landscape roared back to life in Q1, tallying more than US$28B worth of announced deals. Large capital sources have forged ahead on investments in real assets, hedging against the equities market. 

Blackstone plots debut of data centre REIT

Blackstone is planning to bring its data centre investment business directly to retail investors. The corporate behemoth registered Blackstone Digital Infrastructure Trust Inc. with the SEC on Friday as it prepares an initial public offering for the fund.

$1.2B redevelopment of Maryland mall breaks ground

Work is underway on a mixed-use development set to bring 1,600 residential units and nearly half a million square feet of retail to the site of a shuttered mall in Gaithersburg, Md. 

China Evergrande founder pleads guilty to fraud, other charges

The founder of China Evergrande Group, the world’s most indebted property developer, pleaded guilty to eight charges including misuse of funds, fundraising fraud and illegally taking public deposits, a court in China’s southern city of Shenzhen said on Tuesday.

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