Office

Institutional investors compare 10-year Canada bond rate to real estate returns

Canadian Property Management

Bond rate signals to institutional investors

A 100 basis point slide in the 10-year Canada bond rate over the course of the COVID-19 pandemic contributes to real estate’s continuing allure for institutional investors.
CERS applications to be accepted as of November 23

Canadian Property Management

CERS applications to be accepted as of Nov. 23

Legislation to enable the Canada Emergency Rent Subsidy (CERS) received parliamentary approval late last week and an online application portal was expected to be operational for Nov. 23.
CERS draft legislation outlines new commercial rent relief program

Canadian Property Management

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.
commercial evictions

Canadian Property Management

Ontario wires commercial evictions on/off switch

A proposed amendment to the Commercial Tenancies Act, included in Ontario's budget bill, would allow the Minister to impose future COVID-19-related prohibitions on commercial evictions via regulation.
BOMA Canada

REMI Network

BOMA Canada awards industry’s best for 2020

BOMA Canada hosted its annual—and first ever virtual—National Awards Gala on October 29, 2020, marking another year for the CRE industry.
Most U.S. markets fall short of Vancouver and Toronto in Q3 2020

Canadian Property Management

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.
direct subsidies to help tenants and business owners cover fixed property expenses

Canadian Property Management

New subsidy tagged for fixed property expenses

Qualifying commercial tenants and businesses operating in owned premises will be eligible for direct subsidies of up to 65 per cent of their fixed property expenses through the new Canada Emergency Rent Subsidy.
Office vacancies increase in all major Canadian markets during the third quarter of 2020

Canadian Property Management

Office vacancies on par with recessionary events

Canada-wide, CBRE pegs the total office vacancy rate at 12 per cent across the nine major markets it surveys, ranging from a low of 5.4 per cent in Vancouver to nearly 26 per cent in Calgary.
Ontario extends eviction prohibition for commercial tenants in rent arrears due to COVID-19

Canadian Property Management

Ontario adds two-month reprieve for rent arrears

Provincial intervention in the commercial sector is limited to tenants who meet the prerequisites for Canada Emergency Commercial Rent Assistance, but whose landlords have not applied for the relief.
September CECRA coverage

Canadian Property Management

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

Canadian Property Management

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.
workplace

Canadian Facility Management & Design

A case study in workplace reinvention

After many conversations and much planning, the agency has recently started allowing employees to come back into the workplace.
COVID-19 brings fresh commercial office watchwords to the forefront

Canadian Property Management

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.
slumping confidence registered in office sector dynamics

Canadian Property Management

Slumping confidence in office sector dynamics

Confidence in industrial markets has also slipped since 2020 began, but still hovers on the up side of neutral on both sides of the Canada-U.S. border.
Quebec landlords and tenants ensnared in pandemic-related litigation

Canadian Property Management

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.
Halifax office and industrial markets

Canadian Property Management

Challenger rising among Halifax office nodes

The downtown office vacancy rate surpassed 20 per cent, while Dartmouth Crossing enjoyed a 768 basis point drop in vacancy, pushing the rate below 12 per cent.
Unallocated CECRA funds necessitate program extension

Canadian Property Management

Unallocated CECRA funds behind August extension

As of July 30, it’s reported that 63,000 qualifying businesses or not-for-profit organizations had been collectively approved for about $613 million in commercial rent relief.