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Industry News

Plans unveiled for Edmonton’s tallest building

The construction of a new 62-storey tower in downtown Edmonton, destined to dominate the Edmonton skyline and become one of the tallest structures in Western Canada, will begin this fall.

Office market healthy despite rising vacancy rate

Canada’s office vacancy rate rose from 8 per cent to 9.2 per cent during the 12-month period leading up to mid-year 2014. Despite the slight increase, the country’s vacancy rate is notably lower than its neighbour to the south.

Canadian hotel transactions down

Canadian hotel transactions are down significantly during the midpoint of 2014, with 20 fewer deals compared to the same period last year.

Ivanhoe invests in Alberta mall

Ivanhoe Cambridge plans to invest more than $60 million in CrossIron Mills in an attempt to optimize the Alberta mall, located just north of Calgary.

Cineplex opens its first adults-only multiplex

Cineplex has opened its new VIP Cinemas Don Mills, Canada’s first multiplex theatre exclusive to adults. The property, located in Toronto’s Shops at Don Mills complex, features five auditoriums totaling 500 seats.

Starwood to spend millions on Sheraton Toronto

Starwood Hotels & Resorts Worldwide Inc. has invested $90 million to renovate and redesign the landmark Sheraton Centre Toronto. The money will mainly be used

GTA retail market healthy in first half of 2014

Year-to-date sales of retail properties in the Greater Toronto Area (GTA) have surpassed $1.5 billion, signaling a healthy market for the first half of 2014.

Ivanhoe selling Winnipeg mall to H&R REIT

Ivanhoe Cambridge and Sears Canada will sell their shares in Winnipeg’s Kildonan Place to H&R Real Estate Investment Trust.

Vancouver office vacancy rate climbing

Vancouver’s office vacancy rate continues to rise amid high construction activity, with approximately 1 million square feet of office space available in early 2014.

NRCan to update commercial energy use survey

Natural Resources Canada plans to update its inaugural 2009 Survey of Commercial and Institutional Energy Use, an important resource for policy analysts and energy programs.

GTA’s office market improves in Q2

The Greater Toronto Area’s (GTA) office market has shown signs of improvement following a poor first quarter. The overall vacancy rate of 9.4 per cent

Montreal’s leasing market continues to lag

Montreal’s industrial leasing market continued to lag in the second quarter. Vacancy rates across Greater Montreal rose to 7.25 per cent from 7.19 at the end of March.

Heritage Canada releases Endangered Places list

Heritage Canada has released its annual Top 10 Endangered Places List, outlining sites at risk due to neglect, weak legislation or lack of funding.

GWL Realty Advisors purchases Nanaimo mall

GWL Realty Advisors has purchased the Longwood Station shopping mall, located in Nanaimo B.C. for $33.1 million. The 106,000 square-foot shopping centre was sold by Calgary-based First Capital Realty.

PIRET acquires US properties

Pure Industrial Real Estate Trust (PIRET) has entered into agreements to purchase 11 light industrial properties from Scannell Properties for an aggregate purchase price of approximately US$235 million

IAQA to merge with ASHRAE

A proposed merger will enfold approximately 2,600 members in 20 Canadian and U.S. chapters of the Indoor Air Quality Association (IAQA) into ASHRAE's broader sweep.

Ivanhoé sells historic Empress Hotel

Ivanhoe Cambridge has sold the Empress Hotel – one of the most recognized landmarks in Victoria, B.C. – to real estate developer Nat Bosa.