Office
Taxing debate awaits Toronto commercial parking
Debate about a proposed surcharge on commercial parking spaces in Toronto has been deferred until City Council begins to consider 2025 budget measures.
Exposure to U.S. office loans grows unsettling
Regional and mid-sized banks in the United States are considered most vulnerable to losses on commercial real estate loans, particularly those tied to that country’s shaky office sector.
Investment returns show slipping values in 2023
Canadian investment returns for 2023 show retail improvement, industrial deceleration and continuing office value decline, as capital loss balances out income growth for a flat total return.
Vancouver boasts all round lowest vacancy rates
Vancouver enjoys North America’s strongest demand across all asset types, ending 2023 with the lowest vacancy rates for industrial, office, multifamily and retail properties among 63 major urban markets.
Lenders set to curtail office exposure in 2024
Lenders generally expect to curtail office exposure while increasing overall allocations to Canadian real estate in 2024, findings from CBRE Canada's annual survey reveal.
Commercial ratepayers carry heftier tax share
Commercial ratepayers took on a larger share of the property tax burden in eight of 11 large Canadian cities this year, with 2023 commercial tax rates more than tripling residential tax rates in six of those cities.
Tech finds highly competitive options in Canada
Eight Canadian cities rank among the top 50 North American markets for fostering tech employment, with Toronto, Vancouver, Montreal, Ottawa, Waterloo Region and Calgary all placed in the top half of the list.
Trophy office towers widening gap from the pack
Trophy office towers could be anchored atop the market for the long term as the past decade’s wave of new building subsides and little further development is anticipated.
Office building values still trending downward
Appraisers generally expect office building values to keep slipping over the course of 2023 as a range of factors undermine cash flow, push up cap rates and make investors skittish.
Ottawa commercial landlords bid welcome
Mona Fortier, President of the Treasury Board of Canada, confirms that public service employees will be expected to spend 40 to 60 per cent of their working hours in a formal office setting.
Lender confidence varies by CRE asset class
Logistics warehouses, multifamily rental buildings, data centres and life sciences labs are tapped as favoured assets in CBRE Canada’s newly released survey of lenders' sentiment.
Q2 market trends follow familiar patterns
Midway through 2022, Colliers Canada pegs the national office vacancy rate at just below 13 per cent, while the national industrial vacancy rate sits 1,200 basis points lower.
Property tax relief looks iffy in New Brunswick
Beginning in 2023, municipalities will have flexibility to pull more revenue from their non-residential tax base, potentially cancelling out a phased 15 per cent reduction in the provincial property tax rate that was introduced this year.
Employees expect environmentally friendly offices
Six in 10 workers surveyed feel their office is "shamefully eco-unfriendly"
Commercial leases attract political attention
Both the NDP and Green parties float concepts for standardized lease agreements and rent control guidelines in their recently released platforms for the June 2 Ontario election..
The new commercial office takes shape
Facility managers and BSCs are reassessing how they maintain safe office environments. Keeping best practices in mind is vital.
Multifamily rent slippage deemed temporary blip
Multifamily assets posted the largest year-over-year decline in net operating income among the four major sectors in the Canada Annual Property Index, while delivering a 7 per cent total return on investment for 2021.