Office
Canadian Property Management
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.
Canadian Property Management
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.
Canadian Property Management
Tenants gaining clout in downtown Montreal
The office availability rate inched above 12 per cent in downtown Montreal during Q4 2020, closing out a year when tenants gave up more than 1.3 million square feet of space through sublets or non-renewals.
Canadian Property Management
CERS rate structure holds steady until June 5
The federal government reserved the option to adjust the funding levels after March 13 when it introduced the subsidy for fixed property expenses last November.
Canadian Property Management
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.
Canadian Property Management
Halifax records positive absorption downtown
As of December 2020, Turner, Drake and Partners Ltd. pegs the vacancy rate at 14 per cent across 12.2 million square feet of office space in eight submarkets.
Canadian Property Management
Ontario extends ban on commercial evictions
Commercial evictions are still on hold in Ontario for qualifying tenants experiencing pandemic-related financial stress. A new regulation, enabled through 2020 budget legislation, extends the protections.
Canadian Property Management
Repositioning specialist tackles Ottawa market
Marlin Spring and Colonnade BridgePort have partnered in the acquisition of a 12-storey office building at a prominent intersection of Ottawa’s central business district.
Canadian Property Management
Kirkland Centre set for transit-oriented remake
RioCan REIT and Broccolini Real Estate Group have joined forces to redevelop an open-air retail centre in suburban Montreal.
Canadian Property Management
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.
Canadian Property Management
Rezoning sought for midtown Toronto landmark
Development partners Oxford Properties Group and CT REIT envision three million square feet of mixed-use development on the Canada Square site at Yonge and Eglinton.
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.
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.
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.
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.
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.
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.
