Office

Pandemic propels healthy building momentum

Pandemic propels healthy building momentum

COVID-19 has intensified pressure to support physical, social and emotional well-being within the built environment, but many investors, owners and managers were already embracing healthy building principles ahead of pandemic-triggered challenges.
Fossil fuel fortunes continue to hold dominant sway in Calgary's office market

Fossil fuel fortunes burn Calgary

Reflecting on a year in which the pandemic unsettled market fundamentals to the east and to the west, Calgary-based analysts focus more on tangential circumstances than the COVID-19 outbreak itself.
New office supply poses backfill challenges

New office supply poses backfill challenges

An influx of new office supply was always expected to shake up the status quo in the downtown Toronto market given that approximately two-thirds of the 8+ million square feet of space currently under construction is already preleased.
COVID-19 clips 2020 investment performance

COVID-19 clips 2020 investment performance

A ten-year run of capital growth abruptly reversed, resulting in a 7.8 per cent loss of value across the 2,356 assets that the 44 portfolios represented in the Canada Annual Property Index hold.
Multifamily assets outperform the 2020 national average total return for the Canada Property Index

Multifamily assets surpass 2020 index average

Newly released 2020 investment results find industrial and multifamily assets on the positive side of the national average total return for 2,356 directly held standing assets, which registered -4.1 per cent.
Office vacancy rates rose in all major Canadian markets in Q4 2020

Office vacancy rates climb with Q4 sublets

Industrial availability tightened from the third quarter in eight of the 11 surveyed markets, ending the year at well below 2 per cent in Vancouver and Montreal and below 1 per cent in Toronto.
teleworking

How to manage service providers remotely

One of COVID-19's major challenges has been maintaining or improving cleaning activities when the managers responsible are not on-site.
CERS draft legislation outlines new commercial rent relief program

CERS draft legislation awaits adoption

CERS will deliver direct rent support to qualifying tenants without the need to work though their landlords. As a direct subsidy, unlike CECRA, no loan agreement is required.
twindemic prevention

Protecting workplaces from a “twindemic”

In the second wave of the pandemic, business owners and facility managers must be unprecedentedly vigilant about protecting workplaces.
Most U.S. markets fall short of Vancouver and Toronto in Q3 2020

Toronto and Vancouver outdo most U.S. markets

Canada has a numerically slight presence with disproportionate weight in Lee & Associates’ newly released third quarter commercial real estate results.
September CECRA coverage

Stop-gap September CECRA coverage offered

Canada Emergency Commercial Rent Assistance will be offered for a sixth month. The announcement comes eight days after the portal for new applications for the relief program appeared to be closed.
CECRA now closed to new applications for commercial rent relief

CECRA now closed to new applicants

With the August 31 deadline for first-time applications for Canada Emergency Commercial Rent Assistance (CECRA) now passed, the three-month program that evolved into five months of relief is closed to new recipients.
COVID-19 brings fresh commercial office watchwords to the forefront

Commercial office watchwords attuned to COVID

Market analysts typify a second quarter uptick in downtown sublet activity as a spurt, not a glut. However, they project the trend is likely to continue.
Quebec landlords ap

Pandemic-related litigation brewing in Quebec

Commercial real estate specialists are noting a recent Quebec superior court decision with interest, suggesting it could become a beacon for other tenants seeking rent relief.
office-using sectors show relative resilience in COVID-19 job loss scenarios

Office-using sectors show relative resilience

There is plenty of uncertainty and little consensus on the economic outlook for Canada and the United States. It is becoming clear that it will not be a V-shaped recovery, and it is more likely to be uneven and prolonged.
Public transit wariness

Public transit wariness makes the core edgy

Commuters’ willingness to jump on the bus, light-rail car or subway is expected to be a driving factor in repopulating office space in some major North American markets, including Toronto, Montreal and Vancouver.
Solid pre-pandemic fundamentals underpin Canadian real estate market

Solid pre-pandemic fundamentals buttress market

Thus far, in most markets, there’s been no spurt of office sublets or rent discounts that conventionally signify an economic downturn, but there has been a flurry of conjecture about the forces COVID-19 may have unleashed.